Tag: manufacturing activity

Kansas City Fed: Manufacturing Activity Picked Up Somewhat in December

The Kansas City Federal Reserve Bank said that manufacturing activity picked up somewhat in December. The composite index of general business conditions increased from 7 in November to 8 in December, accelerating for the second straight month. More importantly, the indices for new orders (up from 1 to 12) and shipments (up from 7 to 15) reflect some strengthening in demand and output after a weaker-than-desired October and November in the district. The pace of production and hiring reflected decent growth, with measures for both unchanged for the month. Another positive was the continuing deceleration in raw material costs, with that index down from 20 in September to 5 in December. Reduced energy prices likely accounted for this shift in cost pressures. (continue reading…)

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Philly Fed: Manufacturing Activity Remained Strong in December

The Federal Reserve Bank of Philadelphia said that manufacturing activity remained strong in December. While the composite index dropped from 40.8 in November to 24.5 in December, that figure continues to reflect healthy gains in demand and output. The November data points were outliers in terms of their strength, with December’s report reflecting figures that were closer to the average of the second half of 2014 (27.0). Manufacturers in the Philly Fed region have cited marked improvements since the first half, when the composite index contracted in February and averaged just 10.3 over the first six months of the year. (continue reading…)

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NY Fed: Manufacturing Activity Declined in December

The Empire State Manufacturing Survey contracted for the first time since January 2013, according to the New York Federal Reserve Bank. The composite index of general business conditions declined from 10.2 in November to -3.6 in December. Indeed, new orders (down from 9.1 to -2.0) and shipments (down from 11.8 to -0.2) both moved lower for the month, with the average employee workweek (down from -7.5 to -11.5) contracting further. Illustrating this shift, the percentage of respondents saying that their orders had increased from the previous month declined from 32.2 percent in November to 23.9 percent in December. (continue reading…)

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Monday Economic Report – December 8, 2014

Here is the summary for this week’s Monday Economic Report: 

This morning, we will release the results from the latest NAM/IndustryWeek Survey of Manufacturers. Business leaders continue to reflect optimism about the coming months, with 91.2 percent of survey respondents saying they are either somewhat or very positive about their own company’s outlook. Moreover, manufacturers predict growth of 4.5 percent in sales and 2.1 percent in employment  over the next 12 months, with both experiencing the strongest pace in at least two years. (continue reading…)

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Factory Orders Declined in October for the Third Straight Month

The Census Bureau said that new factory orders declined 0.7 percent in October, extending the 0.5 percent decrease observed in September. It was the third straight monthly decline; although, August’s fall was the response from surging aircraft orders in July. Overall, the October numbers were a disappointment, with softness across-the-board. (continue reading…)

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ISM: Manufacturing Activity Remained Healthy in November

The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) edged marginally lower, down from 59.0 in October to 58.7 in November. October’s reading had been the highest level since March 2011. Despite the slight decrease, it is clear that manufacturing activity remained healthy in November. The headline PMI figure has averaged 58.1 so far in the second half of 2014, which represents progress from the average of 54.0 for the first half of the year. Moreover, the sector has largely rebounded from the weather-related softness in January (51.3). (continue reading…)

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Richmond Fed: Manufacturing Activity Expanded at a Slower Rate in November

The Richmond Federal Reserve Bank said that manufacturing activity expanded at a slower rate in November. The composite index of general business conditions declined from 20 in October to 4 in November. To be fair, the October figure represented the fastest pace since December 2010, and as such, some pullback might have been expected. The larger story is that manufacturers in the Richmond Fed district have now reported expanding levels of activity for eight straight months, with the headline index averaging 9 over that time frame. This suggests modest growth overall. (continue reading…)

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Kansas City Fed Reported Increased Manufacturing Activity in November

The Federal Reserve Bank of Kansas City said that manufacturing activity picked up somewhat in its district in November. The composite index rose from 4 in October to 7 in November, its highest level in four months. Along those lines, the pace of production (up from 3 to 9), shipments (up from zero to 7) and employment (up from 6 to 9) improved for the month. In addition, export sales (up from -9 to 8) were positive for the first time since April. Yet, growth remains far from robust, with new orders (down from 2 to 1) decelerating for the fourth consecutive month and just barely above neutral. (continue reading…)

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Philly Fed Manufacturers Were Very Positive about Activity in November

The Federal Reserve Bank of Philadelphia said that manufacturing activity expanded very strongly in November, with its composite index measuring an off-the-chart 40.8 for the month. This was up from 20.7 in October, and you would have to go back two decades to find a higher figure (December 1993’s 41.2 reading). In fact, 49.2 percent of respondents to the Manufacturing Business Outlook Survey said that conditions had improved in November, up from 34.2 percent who said that same thing in October. Along those lines, the Philly Fed survey has registered above average index figures since the first quarter, averaging 23.0 from April to November. That suggests that manufacturers in the district are currently very positive about their businesses. (continue reading…)

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Industrial Production Disappoints in October

Manufacturing production rose 0.2 percent in October. At the same time, output in the sector was revised down from an original estimate of 0.5 percent in September to 0.2 percent. As such, manufacturing production has been weaker over the past three months than desired. Capacity utilization among manufacturers has also edged lower over this time frame, down 77.8 percent in July to 77.2 percent in October.

On a year-over-year basis, manufacturing production has risen 3.4 percent since October 2013. That indicates modest growth over the past 12 months, and yet, it also reflects a deceleration in the year-over-year pace since peaking in July at 4.9 percent. (continue reading…)

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