Business Outlook Survey Table of Results, December

Summary of Returns
December 2012

                     December vs. November         Six Months from now
                                                   vs. December

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

General Busines -10.7  25.5  52.6  17.4   8.1  20.0  46.6  25.3  15.7  30.9
Conditions

New Orders       -4.6  31.7  45.4  21.0  10.7  24.5  50.5  24.1  14.3  36.2

Shipments        -6.7  41.4  34.2  23.1  18.3  27.2  48.9  24.0  15.2  33.7

Unfilled Orders  -4.6  17.0  65.5  14.6   2.3   3.8  17.3  54.9  13.0   4.3

Delivery Times  -13.8  12.4  74.0  13.6  -1.2  -5.0  17.6  60.8  10.2   7.5

Inventories     -12.5  16.3  55.9  27.8 -11.5  -0.2  21.1  47.8  26.1  -5.0

Prices Paid      27.9  30.2  67.2   2.5  27.8  51.7  48.7  41.1   0.0  48.7

Prices Received   6.3  20.2  75.0   4.8  15.4  13.7  36.9  49.6   7.9  29.0

Number of Emp.   -6.8  19.6  61.0  16.0   3.6   4.2  26.6  51.4  11.8  14.8

Avg. Emp. Wrkwk  -6.2  18.5  66.7  14.2   4.2   7.9  26.9  52.2   9.3  17.7

Capital Ex.      --    --    --    --    --    -0.2  28.3  44.9  14.9  13.4


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 December 18, 2012.