Business Outlook Survey Table of Results, April

Summary of Returns
April 2012

                     April vs. March               Six Months from now
                                                   vs. April

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

General Busines  12.5  27.4  52.0  18.9   8.5  32.9  47.0  34.9  13.2  33.8
Conditions

New Orders        3.3  25.2  52.0  22.5   2.7  36.4  50.9  29.8  15.5  35.4

Shipments         3.5  23.6  54.5  20.8   2.8  31.3  47.5  32.7  16.5  31.0

Unfilled Orders -11.0  18.5  66.2  15.3   3.2   9.1  22.7  58.1  15.3   7.4

Delivery Times   -7.1  12.8  71.0  16.2  -3.4   0.1   9.0  70.4  19.1 -10.1

Inventories       0.9  25.4  56.9  17.2   8.2   5.8  25.7  53.7  16.1   9.7

Prices Paid      18.7  27.0  68.4   4.6  22.5  39.4  40.4  51.0   5.2  35.2

Prices Received   8.4  16.9  75.6   7.5   9.4  25.6  32.9  48.5  12.5  20.4

Number of Emp.    6.8  26.7  62.6   8.8  17.9  21.8  35.1  54.2   7.4  27.8

Avg. Emp. Wrkwk   2.7  10.7  75.1  13.0  -2.3  11.2  20.4  62.4  12.9   7.5

Capital Ex.      --    --    --    --    --    14.1  31.4  52.3   9.6  21.7


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 April 17, 2012.