Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “declined somewhat in March, and firms’ expectations for future factory activity weakened but still called for modest overall expansion in coming months,” according to the bank’s monthly manufacturing survey released yesterday. “Price pressures intensified due to higher raw materials and transportation costs, and producers indicated more price pass-through than in recent months.”

The production index held at negative 5 in March, the volume of shipments index also was flat at negative 5, the volume of new orders index decreased to negative 8 from positive 6, and the backlog of orders index fell to negative 5 from zero.

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