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Kansas City Fed Manufacturing activity eased slightly
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Tenth District manufacturing activity eased slightly in August as firms continued to trim inventories, but expectations for future factory activity rebounded to levels not seen since last year. Most price indexes in the survey began to level out after falling sharply through most of the year.
The net percentage of firms reporting month-over-month increases in production in August was -7, down from 2 in July, and 9 in June (Tables 1 & 2, Chart). Production was down slightly among non-durable goods producers, while durable goods manufacturers recorded a more pronounced downturn. Other month-over-month indexes were mixed. The shipments index plunged from 7 to -12, and the new orders index eased after three straight months of positive readings. In contrast, the employment index rose to its highest level in nearly a year, though it was still negative, and the supplier delivery time index also inched higher. Both inventory indexes remained mired in negative territory.
Posted: August 27, 2009 Thursday 11:00 AM