Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “eased further in April, but activity remained expansionary and well above year-ago levels,” according to the bank’s monthly manufacturing survey, released Thursday.
“Factories in our region report continued growth, especially in employment, but at somewhat slower rates than in previous months, when unseasonably warm weather may have helped boost activity,” said Chad Wilkerson, vice president and economist at the Kansas City Fed.
“Expectations for the rest of the year notched down a bit as well, but remained positive,” he added.
The composite index decreased to 3 in April from 9 in March, the production index slid to zero from 13, volume of shipments declined to 3 from 17 and the volume of new orders index slumped to negative 8 from positive 17.
In projections for six months from now, the composite index fell to 12 from 18 and the production index slid to 26 from 31. The shipments index declined to 22 from 31, while new orders dropped to 23 from 34.