Thursday, September 22, 2016

Kansas City Fed: Regional Manufacturing Activity "Rebounded Moderately" in September

by Bill McBride on 9/22/2016 02:15:00 PM

From the Kansas City Fed: Tenth District Manufacturing Activity Rebounded Moderately

The Federal Reserve Bank of Kansas City released the September 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 increased moderately.

“For the second time in four months we had a positive reading on our composite index,” said Wilkerson. “This followed 15 straight months of contraction and suggests regional factory activity may be stabilizing.”
The month-over-month composite index was 6 in September, up from -4 in August and -6 in July ... The production, shipments, and capital spending indexes were moderately higher, while the employment and order backlog indexes were unchanged. ...
emphasis added
The Kansas City region was hit hard by the decline in oil prices, and activity may now be stabilizing.