Friday, November 22, 2019

Kansas City Fed: "Tenth District Manufacturing Activity Continued to Decline Modestly in November"

by Calculated Risk on 11/22/2019 11:00:00 AM

From the Kansas City Fed: Tenth District Manufacturing Activity Continued to Decline Modestly in November

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 continued to decline modestly in November, however expectations for future activity rebounded moderately.

“Regional factory activity continued to edge down in November, driven again by deterioration in durable goods production,” said Wilkerson. “But considerable more firms expect to add workers than reduce their workforce over the next year.”
...
The month-over-month composite index was -3 in November, equal to -3 in October, and similar to -2 in September. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes.
emphasis added
Another weak regional manufacturing report.