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Thursday, January 23, 2014

Kansas City Fed: Manufacturing Survey shows "Activity rebounded moderately in January"

by Calculated Risk on 1/23/2014 03:19:00 PM

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

The Federal Reserve Bank of Kansas City released the January 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 rebounded moderately in January, and factories’ production expectations continued to climb higher.

“We were encouraged to see overall regional factory activity grow in January after dropping last month, said Wilkerson. Production fell slightly in January, which many firms again attributed to weather-related delays, but orders rose and optimism about the future increased.”
The month-over-month composite index was 5 in January, up from -3 December and similar to the reading of 6 in November ... The employment index jumped from 0 to 11–its highest level since October 2011–and the new orders for exports index moved into positive territory for the first time in five months. ...
emphasis added
All of the regional surveys have suggested somewhat faster growth in January than in December. The last of the regional Fed manufacturing surveys for January will be released early next week (Richmond and Dallas Fed).