Business Outlook Survey Table of Results, March

Summary of Returns
March 2012

                     March vs. February            Six Months from now
                                                   vs. March

               Prev.                         Prev.
               Diff.  Inc. No ch. Dec. Diff. Diff.  Inc. No ch. Dec. Diff.
               Index                   Index Index                   Index

General Busines  10.2  40.3  28.1  27.7  12.5  33.3  45.4  42.1  12.5  32.9
Conditions

New Orders       11.7  37.0  27.8  33.7   3.3  32.5  44.0  44.8   7.6  36.4

Shipments        15.0  33.6  34.8  30.1   3.5  29.0  44.3  42.6  13.0  31.3

Unfilled Orders   2.2  12.7  62.3  23.8 -11.0   8.3  18.1  69.7   9.1   9.1

Delivery Times    1.5   9.3  72.9  16.3  -7.1  -2.7  12.6  70.3  12.6   0.1

Inventories     -12.9  21.4  58.2  20.5   0.9   3.9  22.6  55.5  16.8   5.8

Prices Paid      38.7  24.3  67.2   5.6  18.7  50.4  43.4  52.6   4.0  39.4

Prices Received    15  19.1  69.5  10.7   8.4  32.0  32.3  59.1   6.7  25.6

Number of Emp.    1.1  22.2  62.4  15.4   6.8  22.5  32.7  51.1  10.9  21.8

Avg. Emp. Wrkwk  10.1  19.7  58.9  17.0   2.7  10.8  22.7  62.6  11.4  11.2

Capital Ex.      --    --    --    --    --    18.5  28.9  48.1  14.8  14.1


Notes: (1) Items may not add to 100 percent because of omission by respondents.
       (2) All data are seasonally adjusted.
       (3) Diffusion indexes represent the percentage of respondents indicating
           an increase minus the percentage indicating a decrease.
       (4) Survey data reflect information received through March 13, 2012.