Research >> Economics
Kansas City Fed Manufacturing activity was largely flat
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Tenth District manufacturing activity was largely flat in July as firms continued to trim inventories, and expectations remained fairly stable following last month’s increase. Price indexes in the survey eased after rising marginally last month.
The net percentage of firms reporting month-over-month increases in production in July was 2, down from 9 in June, but up from -3 in May. Production edged higher among durable goods producers, but decreased in non-durable goods plants, particularly for food and chemicals. Other month-over-month indexes were mixed. The new orders index was solidly positive for the second straight month, but the order backlog and employment indexes fell after increasing last month. The shipments index edged up slightly, and the new orders for export index moved into positive territory for the first time in 10 months. Both inventory indexes fell for the second straight month and remained highly negative.
Posted: July 30, 2009 Thursday 11:00 AM