NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “moderated somewhat in April, but remained solid. Most producers continued to report healthy expectations. Raw materials prices continued to rise, and more producers raised selling prices,” according to the bank’s monthly manufacturing survey, released Thursday.
The composite index slid to 14 in April from 27 in March, while the production index slumped to 17 from 39, volume of shipments decreased to 21 from 37, and the volume of new orders index dropped to 11 from 31, and the backlog of orders index slipped to 9 from 25. The new orders for exports index slid to 5 from 9, and the supplier delivery time index fell to 18 from 22.
The number of employees index slipped to 17 from 25, while the average employee workweek index plunged to 1 from 25. The prices received for finished product index grew to 28 from 21, while the prices paid for raw materials index dipped to 70 from 72.
As for the inventories indexes, materials decreased to 7 from 20, while the finished goods stayed at 5.
In comparison to the same month a year ago, the composite index grew to 31 from 30, the production index grew to 43 from 35. The shipments index climbed to 41 from 38, while new orders increased to 40 from 35, and the backlog of orders index gained to 28 from 26. The new orders for exports index grew to 14 from 12, and the supplier delivery time index dipped to 23 from 25.
The number of employees index slipped to 25 from 28, while the average employee workweek index dipped to 26 from 27. The prices received for finished product index slid to 46 from 48, and the prices paid for raw materials held at 89. The capital expenditures index dropped to 4 from 14.
As for the inventories indexes, materials slipped to 22 from 26, while the finished goods index decreased to 14 from 19.
In projections for six months from now, the composite index decreased to 20 from 23, the production index slipped to 30 from 32. The shipments index gained to 37 from 33, while new orders inched up to 32 from 31, and the backlog of orders index increased to 14 from 12. The new orders for exports index fell to 12 from 17, and the supplier delivery time index slipped to 13 from 17.
The number of employees index rose to 21 from 19, while the average employee workweek index shot to 10 from 1. The prices received for finished product index increased to 42 from 40, and the prices paid for raw materials fell to 73 from 81. The capital expenditures index was at 20, off from 24 the prior month.
As for the inventories indexes, materials decreased to 3 from 15, while the finished goods index fell to 2 from 11.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
