Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “was largely flat in July as firms continued to trim inventories, and expectations remained fairly stable following last month’s increase,” according to the bank’s monthly manufacturing survey, released yesterday.
“Price indexes in the survey eased after rising marginally last month,” the survey said.
The production index slipped to 2 in July from 9 in June, while the volume of shipments index increased to 7 from 6, the volume of new orders index dipped to 10 from 11, and the backlog of orders index decreased to negative 8 from zero. The new orders for exports index rose to positive 4 from negative 1, and the supplier delivery time index slid to negative 5 from negative 4.
The number of employees index widened to negative 13 from negative 10 and the average employee workweek index dropped to negative 14 from positive 3. Meanwhile, the prices received for finished product index was at negative 17, down from negative 14 in June, while the prices paid for raw materials index narrowed to negative 6 from negative 8.
In projections for six months from now, the production index slipped to 10 from 13. The shipments index dipped to 7 from 11, new orders inched down to 16 from 17, and the backlog of orders index jumped to 8 from 1. The new orders for exports index rose to 8 from 3 and the supplier delivery time index slid to negative 9 from negative 8.
