Friday, November 18, 2016

Kansas City Fed: Regional Manufacturing Activity "Expanded Slightly" in November

by Bill McBride on 11/18/2016 11:15:00 AM

From the Kansas City Fed: Tenth District Manufacturing Activity Expanded Slightly

The Federal Reserve Bank of Kansas City released the November 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 expanded slightly.

Factory activity in our region rose for the third straight month in November, following a year and a half of near constant declines,” said Wilkerson. “Firms also remained optimistic about future activity.” 
...
The month-over-month composite index was 1 in November, down from 6 in October and September ... Most month-over-month indexes slowed somewhat in November.  The production index decreased from 18 to 9, and the shipments, new orders, and order backlog indexes also dropped.  The employment index eased from 7 to 1, still the second highest reading in over a year. ...
emphasis added
The Kansas City region was hit hard by the decline in oil prices, but activity is starting to expand again.