by Bill McBride on 6/25/2015 11:00:00 AM
Thursday, June 25, 2015
From the Kansas City Fed: Tenth District Manufacturing Activity Declined at a Slower Pace
The Federal Reserve Bank of Kansas City released the June Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity declined at a slightly slower pace, and producers’ expectations improved modestly.Some of this recent decline in the Kansas City region has been due to lower oil prices.
“Regional factory conditions continued to decline in June, especially in energy-producing areas,” said Wilkerson. “However, firms continue to expect some stabilization in the months ahead and for orders to rise by the end of the year.”
Tenth District manufacturing activity declined at a slightly slower pace than the previous month, and producers’ expectations improved modestly. Most price indexes continued to rise, particularly for raw materials.
The month-over-month composite index was -9 in June, up from -13 in May but down from -7 in April ... On the other hand, although still negative, the new orders, order backlog, employment, and new orders for export indexes edged higher.
Posted by Bill McBride on 6/25/2015 11:00:00 AM