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Kansas City Fed Manufacturing activity eased slightly
Growth in Tenth District manufacturing activity eased slightly in June, and producers were somewhat less optimistic than in previous months. Price indexes fell from the previous month, with considerable easement in current materials prices and some slowing in finished goods price increases.
The net percentage of firms reporting month-over-month increases in production in June was 3, down from 5 in May and 24 in April. The slowdown in production growth was highest among food, chemicals, and metals producers, while many plants that produce heavy equipment and machinery reported a rise in activity. Other month-over-month indicators were mixed. The shipments and new orders indexes climbed back into positive territory, and the new orders for exports index increased from 0 to 3. In contrast, the employment index dropped from 1 to -1, and the order backlog index recorded its lowest level in almost a year. The supplier delivery time index fell back down after reaching a six-year high last month. Both inventory indexes decreased back into negative territory.
Posted: June 24, 2010 Thursday 11:00 AM