NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “grew moderately in November, and producers were increasingly optimistic about the months ahead,” according to the bank’s monthly manufacturing survey, released today.
“Price indexes continued to rise for raw materials, and finished goods price indexes also began to edge higher.”
The production index increased to 17 in November from 6 in October, while the volume of shipments index surged to 11 from 1, and the volume of new orders index gained to 14 from 11, and backlog of orders index decreased to 2 from 3. The new orders for exports index dipped to 2 from 4, and the supplier delivery time index soared to 13 from 4.
The number of employees index rose to 2 from zero, while the average employee workweek index reversed to positive 5 from negative 2. The prices received for finished product index reversed to positive 4 from negative 4, while the prices paid for raw materials index grew to 29 from 18.
As for the inventories indexes, materials remained at negative 1, while the finished goods reversed to negative 4 from positive 4.
In comparison to the same month a year ago, the production index narrowed to negative 31 from negative 40. The shipments index rose to negative 28 from negative 40, while new orders also gained to negative 16 from negative 37, and the backlog of orders index narrowed to negative 24 from negative 44. The new orders for exports index widened to negative 8 from negative 6, and the supplier delivery time index dipped to negative 3 from negative 2.
The number of employees index slid to negative 49 from negative 47, while the average employee workweek index narrowed to negative 28 from negative 33. The prices received for finished product index improved to negative 12 from negative 14, and the prices paid for raw materials widened to negative 12 from negative 5. The capital expenditures index was at negative 26, off slightly from negative 25 the prior month.
As for the inventories indexes, materials gained to negative 34 from negative 37, while the finished goods index fell to negative 24 from negative 14.
In projections for six months from now, the production index gained to 36 from 29. The shipments index rose to 33 from 25, while new orders slipped to 25 from 31, and the backlog of orders index dipped to 17 from 18. The new orders for exports index slid to 10 from 12, and the supplier delivery time index rose to 9 from zero.
The number of employees index increased to 12 from 10, while the average employee workweek index climbed to 21 from 12. The prices received for finished product index increased to 8 from 2, and the prices paid for raw materials increased to 39 from 34. The capital expenditures index was at zero, up from negative 2 the prior month.
As for the inventories indexes, materials improved to negative 2 from negative 3, while the finished goods index rose to negative 2 from negative 5.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
