NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “rebounded in September as firms’ orders picked up slightly, and expectations mostly held steady with last month’s positive outlook,” according to the bank’s monthly manufacturing survey, released today.
“Most price indexes in the survey inched higher, but still remained at fairly low levels.
The production index increased to positive 16 in September from negative 7 in August, while the volume of shipments index reversed to positive 12 from negative 12, and the volume of new orders index surged to positive 10 from negative 8, and backlog of orders index increased to negative 8 from negative 17. The new orders for exports index rose to 5 from 2, and the supplier delivery time index climbed to 4 from 1.
The number of employees index rose to positive 1 from negative 6, while the average employee workweek index climbed to positive 11 from negative 8. The prices received for finished product index was at negative 4, up from negative 11 the prior month, while the prices paid for raw materials index surged to 15 from zero.
As for the inventories indexes, materials improved to negative 14 from negative 20, while the finished goods rose to negative 7 from negative 11.
In comparison to the same month a year ago, the production index narrowed to negative 46 from negative 60. The shipments index rose to negative 43 from negative 57, while new orders also gained to negative 43 from negative 57, and the backlog of orders index narrowed to negative 48 from negative 52. The new orders for exports index gained to negative 7 from negative 16, and the supplier delivery time index reversed to positive 1 from negative 8.
The number of employees index rose to negative 56 from negative 66, while the average employee workweek index narrowed to negative 40 from negative 50. The prices received for finished product index improved to negative 14 from negative 27, and the prices paid for raw materials narrowed to negative 9 from negative 17. The capital expenditures index was at negative 24, off slightly from negative 23 the prior month.
As for the inventories indexes, materials remained to negative 37, while the finished goods index rose to negative 17 from negative 23.
In projections for six months from now, the production index slipped to 20 from 24. The shipments index held at 16, while new orders dipped to 20 from 21, and the backlog of orders index dropped to 2 from 10. The new orders for exports index rose to 9 from 8, and the supplier delivery time index grew to positive 6 from negative 2.
The number of employees index reversed to positive 6 from negative 5, while the average employee workweek index climbed to 9 from 1. The prices received for finished product index increased to positive 3 from negative 2, and the prices paid for raw materials slipped to 23 from 29. The capital expenditures index was at negative 7, down from zero the prior month.
As for the inventories indexes, materials improved to negative 9 from negative 11, while the finished goods index rose to negative 11 from negative 16.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
