NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “increased in November, and producers remained optimistic about future activity. Price indexes in the survey continued to edge higher, particularly for raw materials,” according to the bank’s monthly manufacturing survey, released Thursday.
The production index surged to 21 in November from 10 in October, while the volume of shipments index grew to 12 from 6, and the volume of new orders index rose to 25 from 16, and the backlog of orders index doubled to 8 from 4. The new orders for exports index soared to 11 from zero, and the supplier delivery time index grew to 11 from 1.
The number of employees index improved to positive 10 from negative 1, while the average employee workweek index rose to 5 from 2. The prices received for finished product index climbed to 3 from 2, while the prices paid for raw materials index jumped to 35 from 25.
As for the inventories indexes, materials increased zero from negative 10, while the finished goods climbed to positive 2 from negative 13.
In comparison to the same month a year ago, the production index rose to 27 from 7. The shipments index jumped to 29 from 12, while new orders increased to 28 from 8, and the backlog of orders index grew to 10 from zero. The new orders for exports index gained to 19 from 7, and the supplier delivery time index rose to 16 from 7.
The number of employees index increased to positive 6 from negative 8, while the average employee workweek index reversed to positive 10 from negative 1. The prices received for finished product index dipped to 15 from 18, and the prices paid for raw materials climbed to 62 from 58. The capital expenditures index increased to 9 from zero.
As for the inventories indexes, materials rose to zero from negative 3, while the finished goods index improved to zero from negative 7.
In projections for six months from now, the production index dipped to 23 from 29. The shipments index decreased to 23 from 29, while new orders slid to 20 from 26, and the backlog of orders index increased to 11 from 7. The new orders for exports index inched up to 15 from 14, and the supplier delivery time index gained to 10 from 9.
The number of employees index grew to 13 from 7, while the average employee workweek index slipped to zero from 1. The prices received for finished product index increased to 27 from 18, and the prices paid for raw materials climbed to 61 from 47. The capital expenditures index was at 12, off from 4 the prior month.
As for the inventories indexes, materials narrowed to negative 1 from negative 5, while the finished goods index improved to negative 5 from negative 16.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
