NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “moderated somewhat in December, and producers were slightly less optimistic about the months ahead, with few planning major capital expenditures,” according to the bank’s monthly manufacturing survey, released today.
“Price indexes remained mostly stable.”
The production index decreased to 10 in December from 17 in November, while the volume of shipments index slipped to 6 from 11, and the volume of new orders index dropped to zero from 14, and backlog of orders index decreased to negative 4 from positive 2. The new orders for exports index doubled to 4 from 2, and the supplier delivery time index dipped to 11 from 13.
The number of employees index fell to negative 3 from positive 2, while the average employee workweek index reversed to negative 1 from positive 5. The prices received for finished product index declined to zero from positive 4, while the prices paid for raw materials index slid to 27 from 29.
As for the inventories indexes, materials slumped to negative 10 from negative 1, while the finished goods reversed to positive 2 from negative 4.
In comparison to the same month a year ago, the production index narrowed to negative 30 from negative 31. The shipments index widened to negative 31 from negative 28, while new orders also widened to negative 25 from negative 16, and the backlog of orders index declined to negative 32 from negative 24. The new orders for exports index improved to zero from negative 8, and the supplier delivery time index climbed to zero from negative 3.
The number of employees index inched up to negative 48 from negative 49, while the average employee workweek index widened to negative 32 from negative 28. The prices received for finished product index improved to negative 10 from negative 12, and the prices paid for raw materials reversed to positive 6 from negative 12. The capital expenditures index was at negative 31, off from negative 26 the prior month.
As for the inventories indexes, materials dipped to negative 35 from negative 34, while the finished goods index rose to negative 12 from negative 24.
In projections for six months from now, the production index dropped to 19 from 36. The shipments index fell to 15 from 33, while new orders slipped to 20 from 25, and the backlog of orders index dipped to 9 from 17. The new orders for exports index rose to 11 from 10, and the supplier delivery time index rose to 13 from 9.
The number of employees index decreased to 2 from 12, while the average employee workweek index slumped to 10 from 21. The prices received for finished product index increased to 13 from 8, and the prices paid for raw materials remained at 39. The capital expenditures index was at negative 2, down from zero the prior month.
As for the inventories indexes, materials slipped to negative 6 from negative 2, while the finished goods index rose to positive 3 from negative 2.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
