Research >> Economics
Kansas City Fed Manufacturing activity declined further
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Tenth District manufacturing activity declined further in January, and firms’ expectations for future activity continued to be pessimistic. Price indexes in the survey also fell for the third straight month.
The net percentage of firms reporting month-over-month increases in production in January was -25, down from -18 in December, but up slightly from -30 in November. Production declined sharply at durable-goods producing plants, but was less negative at non-durable-goods producing plants, particularly among food and plastics manufacturers. Almost all other month-over-month indexes were also more negative in January than in December. The shipments index fell to -22 in January from -14 in December. The employment, employee workweek, and new orders for export indexes all posted the lowest recording in the history of the survey. Additionally, the raw materials and finished goods inventory indexes fell to -23 and -9, respectively.
Posted: January 29, 2009 Thursday 11:00 AM