Tag: manufacturing activity

Kansas City Fed: Manufacturing Activity Has Declined for Six Straight Months

The Kansas City Federal Reserve Bank said that manufacturing activity in its district has declined for six straight months. The composite index of general business conditions edged lower, down from -7 in July to -9 in August, with this measure in solid negative territory since March. Overall, manufacturers continue to report contracting levels of activity, with reduced crude oil prices, the strong dollar and weaknesses abroad pressuring the sector’s performance. Indeed, various measures of activity were negative across-the-board. This included new orders (down from -6 to -9), production (down from -5 to -16), shipments (down from -2 to -15) and exports (up from -10 to -4). Exports have now declined for eight consecutive months. (continue reading…)

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Durable Goods Orders Up for the Second Straight Month

The Census Bureau said that new durable goods orders rose 2.0 percent in July, extending the 4.1 percent jump seen in June. Through the first seven months of 2015, new durable goods orders have risen 6.3 percent. Much of the gain in June came from strong sales from the Paris Air Show, and as we would expect, nondefense aircraft orders came back to earth in July, down 6.0 percent. Even with this decline, however, transportation orders were up 4.7 percent, boosted by rebounding auto sales. Motor vehicle orders increased 0.8 percent and 4.0 percent in the past two months, respectively, improving from softer demand in the spring months and helping the segment notch a 7.3 percent year-to-date gain. (continue reading…)

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Richmond Fed: Manufacturing Activity Stalled in August

The Richmond Federal Reserve Bank said that manufacturing activity stalled in August, pulling back from three months of rebounding sentiment. The composite index of general business activity declined from 13 in July to zero in August, its lowest level since April. Manufacturers reported weaker activity across-the-board, with only marginal growth in new orders (down from 17 to 1) and employment (unchanged at 1) and reductions in shipments (down from 16 to -4) and capacity utilization (down from 9 to -5) levels. There have been a number of headlines so far this year, including a strong dollar, sluggish global growth and reduced crude oil prices. These data suggest that the sector has not fully emerged from those challenges despite some progress since the spring months. (continue reading…)

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Philly Fed: Manufacturing Activity Expanded Modestly in August

The Federal Reserve Bank of Philadelphia said that growth in the manufacturing sector in its district expanded modestly in August, picking up slightly from July. The composite index of general business activity increased from 5.7 in July to 8.3 in August. While this suggests some improvement for the month, growth in activity has decelerated since June’s 15.2 reading, which was the highest level so far in 2015. The headline figure rose primarily on strength in shipments (up from 4.4 to 16.7), with 36.0 percent of respondents suggesting that their shipments were higher in August, up from 23.5 percent in July. Similarly, hiring (up from -0.4 to 5.3) accelerated somewhat, with the percentage of those completing the survey saying that employment was increased up from 12.0 percent to 21.1 percent. The average workweek (up from 4.0 to 8.5) was also longer. (continue reading…)

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Kansas City Fed: Manufacturing Activity Declined for the Fifth Straight Month in July

The Kansas City Federal Reserve Bank said that manufacturing activity declined for the fifth straight month in July, albeit at a slower pace than in either May or June. The composite index of general business conditions increased from -13 in May to -9 in June to -7 in July. Overall, manufacturers continue to report contracting levels of activity, with reduced crude oil prices, the strong dollar and weaknesses abroad pressuring the sector’s performance. Indeed, various measures of activity were negative across-the-board, even with some of them showing a slower rate of decline for the month. This included new orders (down from -3 to -6), production (up from -21 to -5), shipments (up from -15 to -2) and exports (down from -5 to -10). Exports have now declined for seven consecutive months. (continue reading…)

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Philly Fed: Growth in Manufacturing Activity Slowed Somewhat in July

The Federal Reserve Bank of Philadelphia said that growth in the manufacturing sector in its district slowed somewhat in July. The composite index of general business activity decreased from 15.2 in June, its highest level so far in 2015, to 6.7 in July. This suggests some deceleration in the expansion rate, leading more respondents to indicate declines in several key underlying data points. For instance, the percentage of manufacturers suggesting that their new orders had decreased in the month rose from 19.7 percent in June to 24.7 percent in July. This corresponded to the percentage of respondents citing increased new orders dropping from 35.0 percent to 31.7 percent. As such, the new orders index dropped from 15.2 to 7.1 – a reading that suggests a modest expansion in demand in June, even as the growth rate eased from a more-robust pace in July. (continue reading…)

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NY Fed: Manufacturing Activity Rebounded Somewhat in July

The Empire State Manufacturing Survey said that activity rebounded somewhat in July. The composite index of general business conditions from the New York Federal Reserve Bank improved from -2.0 in June to 3.9 in July, indicating a slight expansion in activity for the month. Nonetheless, even with better data in July, the year-to-date average for this composite measure was just 4.1, suggesting only modest growth for the sector. This compared to an average of 13.8 in the second half of 2014, showing a deceleration in the overall growth rate as a number of economic headwinds have dampened activity in the New York Fed’s district. (continue reading…)

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ISM: Manufacturing Activity Picked Up Somewhat in June

The Institute for Supply Management’s manufacturing purchasing managers’ index picked up a little in June. The headline PMI increased from 52.8 in May to 53.5 in June, returning to a level last seen in January. As such, this report indicates that manufacturing activity has begun to recover from the softer demand, output and hiring levels experienced earlier in the year, with a number of economic headlines challenging the sector. Still, that does not mean that manufacturers are out of the woods yet, with activity expanding at a slower pace than desired. To illustrate this point, the manufacturing PMI averaged 56.9 in the second half of 2014, but has averaged 52.6 through the first six months of 2015. (continue reading…)

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Kansas City Fed: Manufacturing Activity Declined for the Fourth Straight Month in June

The Kansas City Federal Reserve Bank said that manufacturing activity declined for the fourth straight month in June, albeit at a slower pace than in May. The composite index of general business conditions increased from -13 in May to -9 in June. The slower decline for the headline measure stemmed largely from an easing in the decrease of new orders (up from -19 to -3). Still, it is hard to paint this report in a positive manner, with continued sluggishness across the board. For instance, the rate of production weakened even further (down from -13 to -21), with shipments (down from -9 to -15), employment (up from -17 to -9) and exports (up from -9 to -5) all solidly in contraction. Exports have been negative for six consecutive months. (continue reading…)

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Richmond Fed: Manufacturing Activity Expanded at Fastest Rate since January

The Richmond Federal Reserve Bank reported that manufacturing activity expanded at its fastest pace since January – a sign that the sector has made progress since the spring. The composite index of general business activity improved from 1 in May to 6 in June. This figure was boosted, in particular, by stronger new orders (up from 2 to 11), its highest level since October. Shipments (up from -1 to zero) were unchanged for the month, but that represented some stabilization after four straight months of contraction. Overall, this report found modest growth in the manufacturing sector in the Richmond Fed district, which – while not as strong as we might prefer – found sentiment moving in the right direction. (continue reading…)

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