NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “continued to expand moderately in October, and producers were increasingly optimistic about future activity. Price indexes in the survey edged up slightly for the second straight month,” according to the bank’s monthly manufacturing survey, released Thursday.
The production index slipped to 10 in October from 14 in September, while the volume of shipments index fell to 6 from 15, and the volume of new orders index rose to 16 from 9, and the backlog of orders index remained at 4. The new orders for exports index slid to zero from 10, and the supplier delivery time index fell to 1 from 4.
The number of employees index improved to negative 1 from negative 2, while the average employee workweek index held at 2. The prices received for finished product index climbed to positive 2 from negative 1, while the prices paid for raw materials index remained at 25.
As for the inventories indexes, materials decreased negative 10 from negative 1, while the finished goods slumped to negative 13 from positive 5.
In comparison to the same month a year ago, the production index fell to 7 from 22. The shipments index slipped to 12 from 25, while new orders decreased to 8 from 20, and the backlog of orders index slumped to zero from 4. The new orders for exports index dipped to 7 from 12, and the supplier delivery time index held at 7.
The number of employees index declined to negative 8 from negative 2, while the average employee workweek index reversed to negative 1 from positive 6. The prices received for finished product index rose to 18 from 11, and the prices paid for raw materials climbed to 58 from 48. The capital expenditures index was steady at zero.
As for the inventories indexes, materials remained negative 3, while the finished goods index dipped to negative 7 from negative 2.
In projections for six months from now, the production index grew to 29 from 23. The shipments index increased to 29 from 19, while new orders slid to 26 from 28, and the backlog of orders index decreased to 7 from 23. The new orders for exports index increased to 14 from 12, and the supplier delivery time index gained to 9 from 3.
The number of employees index remained at 7, while the average employee workweek index slipped to 1 from 6. The prices received for finished product index increased to 18 from 10, and the prices paid for raw materials climbed to 47 from 40. The capital expenditures index was at 4, off from 8 the prior month.
As for the inventories indexes, materials declined to negative 5 from negative 2, while the finished goods index fell to negative 16 from negative 3.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
