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Economy in Brief

Kansas City Fed Survey Remains Elevated
by Tom Moeller  April 24, 2014

The Federal Reserve Bank of Kansas City reported that its April Composite index of 10th District factory sector activity remained firm at 7 versus 10 in March. The figures were at the highest levels since early 2012. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes. The orders, shipments, employee hours worked and production categories improved greatly this month.

The expectations reading remained near the highest level since early 2011. Component figures remained above the current activity indexes, suggesting future improvement. The expected business conditions in six months improved as the new orders, shipments, production and employment components increased. Showing a rebound was the index for capital expenditures in six months as well as exports. Also, inventory levels were viewed as being somewhat higher in six months.

The diffusion indexes are calculated as the percentage of total respondents reporting increases minus the percentage reporting declines. The survey included 94 responses from plants in Colorado, Kansas, Nebraska, Oklahoma, Wyoming northern New Mexico. Data for the Kansas City Fed Survey can be found in Haver's SURVEYS database.

Kansas City Federal Reserve Manufacturing Survey Apr Mar Feb Apr. '13 2013 2012 2011
Conditions Versus One Month Ago (% Balance) 7 10 4 -3 0 4 9
   New Orders Volume 9 13 5 1 1 0 5
   Number of Employees 3 0 3 -3 -2 5 11
   Prices Received for Finished Product 2 10 7 1 3 5 12
Expected Conditions in Six Months 21 11 11 5 10 12 16
   New Orders Volume 33 30 23 9 18 21 24
   Number of Employees 22 2 6 8 9 13 17
   Prices Received for Finished Product 31 21 25 27 24 24 29
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