Kansas City Fed Survey Show Signs of Rebound

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “showed signs of a rebound in June, and firms’ expectations for future factory activity were generally positive,” according to the bank’s monthly manufacturing survey released yesterday.

“Price indexes in the survey edged up slightly after months of decline,” it said.

The production index reversed to positive 9 in June from negative 3 in May, while the volume of shipments index increased to positive 6 from negative 1, the volume of new orders index grew to 11 from 3, and the backlog of orders index increased to zero from negative 18.

The number of employees index narrowed to negative 10 from negative 13, while the average employee work-week index increased to positive 3 from negative 14. The prices received for finished product index was at negative 14, up from negative 19 the prior month, while the prices paid for raw materials index narrowed to negative 8 from negative 20.

In the survey’s projections for six months from now, the production index jumped to 13 from 1, the shipments index grew to 11 from zero, the new orders rose to 17 from zero, and the backlog of orders index jumped to positive 1 from negative 10.

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