Thursday, March 24, 2016

Kansas City Fed: Regional Manufacturing Activity "remained negative" in March

by Bill McBride on 3/24/2016 11:00:00 AM

From the Kansas City Fed: Tenth District Manufacturing Activity Remained Negative

The Federal Reserve Bank of Kansas City released the March 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 remained negative.

“Factories reported another decline in activity in March, although the drop was somewhat smaller than in the previous three months” said Wilkerson.
Tenth District manufacturing activity remained negative, while producers’ expectations for future activity weakened. Most price indexes edged higher in March, but remained at low levels.

The month-over-month composite index was -6 in March, up from -12 in February and -9 in January ... The new orders, order backlog, and employment indexes improved slightly but remained in negative territory.
emphasis added
The Kansas City region continues to be hit hard by lower oil prices and the stronger dollar.