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Friday, November 16, 2018

Kansas City Fed: Regional Manufacturing Activity "Growth Edged Higher" in November

by Calculated Risk on 11/16/2018 11:00:00 AM

From the Kansas City Fed: Growth in Tenth District Manufacturing Activity Edged Higher

he 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 growth in Tenth District manufacturing activity edged higher, while expectations for future activity moderated slightly.

“Firms reported a pickup in orders, production, and shipments in November, following some slowing in recent months” said Wilkerson.
The month-over-month composite index was 15 in November, up from 8 in October and 13 in September. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes. The increase in factory growth was driven by both durable and nondurable goods producers, particularly metals, aircraft, food, and plastics. Most month-over-month indexes rose modestly. The production, shipments, new orders, and order backlog indexes all increased to their highest levels since the middle of the year. The new orders for exports index inched up from 3 to 6, while the employment index eased somewhat.
emphasis added