NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “slowed in August, and producers were somewhat less optimistic than in previous months. Price indexes in the survey were mostly unchanged,” according to the bank’s monthly manufacturing survey, released Thursday.
The production index slumped to zero in August from 14 in July, while the volume of shipments index fell to negative 6 from positive 12, and the volume of new orders index dropped to negative 13 from positive 9, and backlog of orders index declined to negative 16 from negative 2. The new orders for exports index slid to negative 1 from zero, and the supplier delivery time index rose to 3 from zero.
The number of employees index reversed to negative 2 from positive 5, while the average employee workweek index slipped to negative 6 from positive 1. The prices received for finished product index climbed to negative 4 from negative 9, while the prices paid for raw materials index remained at 14.
As for the inventories indexes, materials increased to positive 6 from negative 1, while the finished goods gained to 2 from zero.
In comparison to the same month a year ago, the production index fell to 18 from 25. The shipments index slipped to 18 from 25, while new orders decreased to 16 from 23, and the backlog of orders index slumped to 3 from 6. The new orders for exports index dipped to 12 from 14, and the supplier delivery time index grew to 4 from 3.
The number of employees index improved to negative 8 from negative 10, while the average employee workweek index increased to 9 from 5. The prices received for finished product index held at 7, and the prices paid for raw materials crept to 51 from 50. The capital expenditures index was at negative 9, down from positive 4 the prior month.
As for the inventories indexes, materials narrowed to negative 5 from negative 9, while the finished goods index dipped to negative 8 from negative 5.
In projections for six months from now, the production index fell to 10 from 23. The shipments index decreased to 9 from 22, while new orders slid to 16 from 23, and the backlog of orders index decreased to 4 from 11. The new orders for exports index increased to 7 from 5, and the supplier delivery time index dipped to 6 from 8.
The number of employees index gained to 2 from 1, while the average employee workweek index slipped to negative 2 from zero. The prices received for finished product index dipped to 7 from 9, and the prices paid for raw materials climbed to 30 from 26. The capital expenditures index was at negative 4, off from negative 3 the prior month.
As for the inventories indexes, materials improved to negative 6 from negative 8, while the finished goods index rose to zero from negative 4.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
