NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region continued to expand in January, but at a much slower pace than in December, according to the bank’s monthly manufacturing survey, released Thursday.
The composite index fell to 7 from 14 in December, while the production index slid to 11 from 21, volume of shipments declined to 5 from 20, and the volume of new orders index dropped to zero from 16, and the backlog of orders index slipped to 2 from 9. The new orders for exports index remained at 5, and the supplier delivery time index rose to 11 from 7.
The number of employees index declined to 8 from 11, while the average employee workweek index slid to 6 from 10. The prices received for finished product index fell to 11 from 16, while the prices paid for raw materials index jumped to 70 from 55.
As for the inventories indexes, materials decreased to 7 from 13, while the finished goods slipped to 3 from 4.
In comparison to the same month a year ago, the composite index rose to 23 from 20, the production index slid to 29 from 32. The shipments index dropped to 28 from 33, while new orders increased to 34 from 31, and the backlog of orders index grew to 25 from 20. The new orders for exports index grew to 13 from 10, and the supplier delivery time index remained at 18.
The number of employees index increased to 17 from 13, while the average employee workweek index increased to 22 from 19. The prices received for finished product index rose to 24 from 23, and the prices paid for raw materials climbed to 73 from 68. The capital expenditures index plunged to 2 from 19.
As for the inventories indexes, materials rose to 18 from 6, while the finished goods index improved to 12 from 6.
In projections for six months from now, the composite index slid to 20 from 21, the production index fell to 24 from 39. The shipments index decreased to 23 from 33, while new orders slid to 28 from 31, and the backlog of orders index decreased to 8 from 17. The new orders for exports index dropped to 11 from 16, and the supplier delivery time index surged to 15 from 8.
The number of employees index fell to 21 from 24, while the average employee workweek index slipped to 5 from 12. The prices received for finished product index decreased to 28 from 34, and the prices paid for raw materials slid to 71 from 76. The capital expenditures index was at 17, off from 21 the prior month.
As for the inventories indexes, materials increased to 13 from 5, while the finished goods index reversed to positive 2 from negative 2.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
