Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “moderated somewhat in December, and producers were slightly less optimistic about the months ahead, with few planning major capital expenditures,” according to the bank’s manufacturing survey released yesterday.
The production index decreased to 10 in December from 17 in November, while the volume of shipments index slipped to 6 from 11, the volume of new orders index dropped to zero from 14, and backlog of orders index decreased to negative 4 from positive 2. The new orders for exports index doubled to 4 from 2, and the supplier delivery time index fell to 11 from 13.
The number of employees index fell to negative 3 from positive 2, while the average employee workweek index reversed to negative 1 from positive 5. The prices received for finished product index fell to zero from positive 4, while the prices paid for raw materials index slid to 27 from 29.
In projections for six months from now, the production index dropped to 19 from 36. The shipments index fell to 15 from 33, while new orders slipped to 20 from 25, and the backlog of orders index dipped to 9 from 17. The new orders for exports index rose to 11 from 10, and the supplier delivery time index rose to 13 from 9.
The number of employees index decreased to two from 12, while the average employee workweek index slumped to 10 from 21. The prices received for finished product index increased to 13 from 8, and the prices paid for raw materials remained at 39. The capital expenditures index was at negative 2, down from zero.
