Research >> Economics
Kansas City Fed Manufacturing activity weakened further
Tenth District manufacturing activity weakened further in November, and firms’ expectations for future activity declined considerably. Price indexes in the survey also fell markedly for the second straight month.
The net percentage of firms reporting month-over-month increases in production in November was -31, down from -23 in October and -9 in September. Production contracted at both durable and non-durable-goods producing plants. Nearly all other month-over-month indexes were down sharply in November. Similar to last month, the production, shipments, new orders and order backlog indexes recorded their lowest levels in the survey’s fourteen-year history. The employment index also posted a record survey low, dropping from -12 to -21. After relatively positive growth earlier in the year, the new order for exports index decreased from -6 to -14, another all-time low. The raw materials inventories index fell further this month, while the finished goods inventory index rebounded from -9 to 1.
Posted: November 26, 2008 Wednesday 10:31 AM