Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “rebounded in September as firms’ orders picked up slightly, and expectations mostly held steady with last month’s positive outlook,” according to the bank’s monthly manufacturing survey released yesterday.
The production index increased to positive 16 in September from negative 7 in August, while the volume of shipments index reversed to positive 12 from negative 12, the volume of new orders index surged to positive 10 from negative 8, and the backlog of orders index increased to negative 8 from negative 17.
In projections looking forward to six months from now, the production index slipped to 20 from 24. The shipments index held at 16, while new orders dipped to 20 from 21, and the backlog of orders index dropped to 2 from 10. The new orders for exports index rose to 9 from 8, and the supplier delivery time index grew to positive 6 from negative 2.