NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “rebounded moderately in July, and expectations for future production remained positive. However, plans for future hiring and capital spending were essentially flat. Price indexes were mostly unchanged,” according to the bank’s monthly manufacturing survey, released today.
The production index jumped to 14 in July from 3 in June, while the volume of shipments index rose to 12 from 1, and the volume of new orders index climbed to 9 from zero, and backlog of orders index improved to negative 2 from negative 9. The new orders for exports index fell to zero from 3, and the supplier delivery time index slid to zero from 5.
The number of employees index reversed to positive 5 from negative 1, while the average employee workweek index gained to positive 1 from negative2. The prices received for finished product index climbed to negative 9 from negative 14, while the prices paid for raw materials index remained at 14.
As for the inventories indexes, materials narrowed to negative 1 from negative 4, while the finished goods slipped to zero from 1.
In comparison to the same month a year ago, the production index rose to 25 from 9. The shipments index surged to 25 from 6, while new orders increased to 23 from 6, and the backlog of orders index reversed to positive 6 from negative 5. The new orders for exports index doubled to 14 from 7, and the supplier delivery time index grew to 3 from zero.
The number of employees index improved to negative 10 from negative 12, while the average employee workweek index increased to positive 5 from negative 4. The prices received for finished product index slipped to 7 from 9, and the prices paid for raw materials dipped to 50 from 53. The capital expenditures index was at positive 4, up from negative 5 the prior month.
As for the inventories indexes, materials narrowed to negative 9 from negative 14, while the finished goods index dipped to negative 5 from negative 4.
In projections for six months from now, the production index grew to 23 from 21. The shipments index decreased to 22 from 24, while new orders held at 23, and the backlog of orders index fell to 11 from 12. The new orders for exports index remained at 5, and the supplier delivery time index increased to 8 from zero.
The number of employees index decreased to 1 from 9, while the average employee workweek index slipped to zero from 2. The prices received for finished product index dipped to 9 from 11, and the prices paid for raw materials slumped to 26 from 40. The capital expenditures index was at negative 3, up from negative 4 the prior month.
As for the inventories indexes, materials improved to negative 8 from negative 10, while the finished goods index rose to negative 4 from negative 16.
The Tenth Federal Reserve District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
