Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “weakened further in December, and firms’ expectations for future activity remained pessimistic,” according to the bank’s monthly manufacturing survey, released yesterday.
The production index rebounded to negative 21 in December from negative 31 in November, while the volume of shipments index narrowed to negative 17 from negative 38, and the volume of new orders index crept to negative 30 from negative 39, and backlog of orders index improved to negative 29 from negative 38. The new orders for exports index dropped to negative 17 from negative 14, and the supplier delivery time index increased to negative 7 from negative 8.
The number of employees index declined to negative 33 from negative 21, while the average employee workweek index gained to negative 23 from negative 25. The prices received for the finished product index was at negative 11, down from negative 5 the prior month, while the prices paid for raw materials index slid to negative 28 from negative 19.
As for the inventories indexes, materials declined to negative 18 from negative 11, while the finished goods reversed to negative 3 from positive 1.
In comparison to the same month a year ago, the production index sank to negative 40 from negative 35. The shipments index inched up to negative 30 from negative 31, while new orders climbed to negative 44 from negative 45, and the backlog of orders index narrowed to negative 34 from negative 40. The new orders for exports index fell to negative 12 from negative 8, and the supplier delivery time index jumped to negative 3 from negative 10.
The number of employees index worsened to negative 38 from negative 29, while the average employee workweek index was up to negative 31 from negative 36. The prices received for finished product index remained at 37, and the prices paid for raw materials plunged to 20 from 39. The capital expenditures index was at negative 8, up from negative 10 the prior month.
As for the inventories indexes, materials slid to negative 11 from negative 5, while the finished goods index dropped to negative 6 from zero.
In projections for six months from now, the production index narrowed to negative 18 from negative 24. The shipments index gained to negative 20 from negative 22, while new orders rose to negative 15 from negative 20, and the backlog of orders index rose to negative 20 from negative 21. The new orders for exports index fell to negative 9 from negative 5, and the supplier delivery time index dipped to negative 10 from negative 7.
The number of employees index narrowed to negative 24 from negative 27, while the average employee workweek index fell to negative 20 from negative 11. The prices received for the finished product index increased to 2 from zero, and the prices paid for raw materials rose to negative 10 from negative 12. The capital expenditures index was at negative 25, down from negative 21 the prior month.
As for the inventories indexes, materials declined to negative 31 from negative 19, while the finished goods index widened to negative 20 from negative 15.
The 10th Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico, and western Missouri.
