NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “moderated somewhat in October, but producers were more optimistic about future activity,” according to the bank’s monthly manufacturing survey, released today.
“Price indexes increased somewhat for raw materials, while finished goods price indexes were generally stable.”
The production index decreased to 6 in October from 16 in September, while the volume of shipments index dropped to 1 from 12, and the volume of new orders index inched up to 11 from 10, and backlog of orders index increased to positive 3 from negative 8. The new orders for exports index dipped to 4 from 5, and the supplier delivery time index remained at 4.
The number of employees index slid to zero from 1, while the average employee workweek index dropped to negative 2 from positive 11. The prices received for finished product index was unchanged at negative 4, while the prices paid for raw materials index grew to 18 from 15.
As for the inventories indexes, materials improved to negative 1 from negative 14, while the finished goods rose to positive 4 from negative 7.
In comparison to the same month a year ago, the production index narrowed to negative 40 from negative 46. The shipments index rose to negative 40 from negative 43, while new orders also gained to negative 37 from negative 43, and the backlog of orders index narrowed to negative 44 from negative 48. The new orders for exports index gained to negative 6 from negative 7, and the supplier delivery time index reversed to negative 2 from positive 1.
The number of employees index rose to negative 47 from negative 56, while the average employee workweek index narrowed to negative 33 from negative 40. The prices received for finished product index held at negative 14, and the prices paid for raw materials narrowed to negative 5 from negative 9. The capital expenditures index was at negative 25, off slightly from negative 24 the prior month.
As for the inventories indexes, materials remained to negative 37, while the finished goods index rose to negative 14 from negative 17.
In projections for six months from now, the production index gained to 29 from 20. The shipments index rose to 25 from 16, while new orders jumped to 31 from 20, and the backlog of orders index surged to 18 from 2. The new orders for exports index rose to 12 from 9, and the supplier delivery time index fell to zero from 6.
The number of employees index increased to 10 from 6, while the average employee workweek index climbed to 12 from 9. The prices received for finished product index declined to 2 from 3, and the prices paid for raw materials increased to 34 from 23. The capital expenditures index was at negative 2, up from negative 7 the prior month.
As for the inventories indexes, materials improved to negative 3 from negative 9, while the finished goods index rose to negative 5 from negative 11.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
