Manufacturing activity in the Federal Reserve Bank of Kansas City's region "contracted further in February, and factories' expectations weakened somewhat," according to the bank's monthly manufacturing survey, released Thursday.

"Factory activity fell more sharply in February than in previous months," said Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City. "Some contacts cited disruptions due to bad weather, and many firms noted that possible federal spending cuts were hurting business. However, capital spending plans for later in the year improved considerably."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.