Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued at a solid pace in December, and producers were increasingly optimistic about future activity. Price indexes in the survey rose further, with a marked increase in raw materials prices," according to the bank's monthly manufacturing survey, released Thursday.

The production index held at 21 in December, while the volume of shipments index grew to 20 from 12, and the volume of new orders index dipped to 24 from 25, and the backlog of orders index jumped to 12 from 8. The new orders for exports index slipped to 7 from 11, and the supplier delivery time index fell to 7 from 11.

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