NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “eased slightly in June, and producers were somewhat less optimistic than in previous months,” according to the bank’s monthly manufacturing survey, released today.
“Price indexes fell from the previous month, with considerable easement in current materials prices and some slowing in finished goods price increases,” the survey reported.
The production index slumped to 3 in June from 5 in May, while the volume of shipments index rose to positive 1 from negative 3, and the volume of new orders index climbed to zero from negative 2, and backlog of orders index declined to negative 9 from negative 3. The new orders for exports index grew to 3 from zero, and the supplier delivery time index slid to 5 from 15.
The number of employees index reversed to negative 1 from positive 1, while the average employee workweek index dropped to negative 2 from positive 9. The prices received for finished product index declined to negative 14 from negative 1, while the prices paid for raw materials index decreased to 14 from 37.
As for the inventories indexes, materials slumped to negative 4 from positive 6, while the finished goods slipped to 1 from 6.
In comparison to the same month a year ago, the production index fell to 9 from 16. The shipments index dipped to 6 from 13, while new orders sunk to 6 from 23, and the backlog of orders index dropped to negative 5 from zero. The new orders for exports index inched down to 7 from 8, and the supplier delivery time index fell to zero from 10.
The number of employees index improved to negative 12 from negative 18, while the average employee workweek index declined to negative 4 from positive 8. The prices received for finished product index remained at 9, and the prices paid for raw materials dipped to 53 from 63. The capital expenditures index was at negative 5, unchanged from the prior month.
As for the inventories indexes, materials held at negative 14, while the finished goods index gained to negative 4 from negative 8.
In projections for six months from now, the production index slid to 21 from 32. The shipments index decreased to 24 from 33, while new orders dropped to 23 from 31, and the backlog of orders index fell to 12 from 16. The new orders for exports index slipped to 5 from 7, and the supplier delivery time index declined to zero from 9.
The number of employees index decreased to 9 from 14, while the average employee workweek index slumped to 2 from 13. The prices received for finished product index dipped to 11 from 17, and the prices paid for raw materials slumped to 40 from 45. The capital expenditures index was at negative 4, off from positive 5 the prior month.
As for the inventories indexes, materials remained at negative 10, while the finished goods index fell to negative 11 from negative 6.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
