Research >> Economics
Kansas City Fed Manufacturing activity declined only slightly
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Tenth District manufacturing activity declined only slightly in May, and firms generally expect steady conditions heading forward. Price indexes in the survey indicated continued declines in both materials and finished goods prices.
The net percentage of firms reporting month-over-month increases in production in May was -3, up from -6 in April and -21 in March (Tables 1 & 2, Chart). Production indexes increased at non-durable-goods producing plants, but eased a bit at durable-goods plants, particularly machinery and furniture manufacturers. Most other month-over-month indexes showed some improvements but generally still remained in negative territory. An exception was the new order index, which was positive for the first time in nine months. The shipments index rose from -6 to -1, and the order backlog index also climbed higher. The employment index increased from -23 to -13, and the new orders for exports index reached its highest level in over six months. Both inventory indexes edged up for the second straight month but were still indicative of firms trimming their stock levels.
Posted: May 28, 2009 Thursday 11:00 AM