Manufacturing activity in the Federal Reserve Bank of Kansas City region “weakened further in November, and firms’ expectations for future activity declined considerably,” according to the bank’s monthly manufacturing survey released Wednesday.
“Price indexes in the survey also fell markedly for the second straight month,” the Fed said.
The production index slumped to negative 31 in November from negative 23 in October, the volume of shipments index declined to negative 38 from negative 20, the volume of new orders index slipped to negative 39 from negative 23, and backlog of orders index declined to negative 38 from negative 24. The new orders for exports index dropped to negative 14 from negative 6, and the supplier delivery time index decreased to negative 8 from negative 2.
