Thursday, August 26, 2010

Kansas City Fed: Manufacturing activity slowed in August

by Bill McBride on 8/26/2010 11:25:00 AM

Usually I don't post all the regional manufacturing surveys, but it appears manfuacturing is slowing right now - and the regional surveys provide early clues ...

From the Kansas City Fed:

Tenth District manufacturing activity slowed in August, and producers were somewhat less optimistic than in previous months.
...
The net percentage of firms reporting month-over-month increases in production in August was 0, down from 14 in July ... The shipments, new orders, and employment indexes dropped into negative territory, and the order backlog index slipped from -2 to -16.
This is the lowest level for the Kansas City survey since August 2009.

Yesterday I compared the ISM PMI (to be released next week) with the regional Fed surveys, and based on these surveys, I expect the PMI to fall further in August.

Note on MBA: I'll post analysis of the MBA Q2 delinquency data after I receive the material (some sort of glitch this morning).