Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued to expand modestly, and producers remained generally positive about future months," according to the bank's monthly manufacturing survey, released Thursday.
"Factory activity in our region continues to be buoyed by strong growth among agriculture and energy-related manufacturers," said Chad Wilkerson, vice president at the Kansas City Fed. "New orders accelerated at these firms in August even as some other firms experienced softness. But hiring and capital spending plans remain fairly solid across broader categories of producers." Though price indexes eased this month, firms still planned to raise selling prices, he added.