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Economy in Brief

Kansas City Fed Index Matches Two-Year High
by Tom Moeller  May 23, 2014

The Federal Reserve Bank of Kansas City reported that its May Composite index of 10th District factory sector activity rebounded to 10 versus 7 in April. These 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 prices paid index improved sharply.

The expectations reading deteriorated m/m but it remained above the current conditions index, suggesting future improvement in business conditions. Virtually all of the component series fell m/m, notably production, shipments, new and unfilled orders. The employment series declined moderately. Moving higher were the finished goods inventory, prices paid and prices received indexes.

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 (SA) May Apr Mar May '13 2013 2012 2011
Conditions Versus One Month Ago (% Balance) 10 7 10 2 0 4 9
   New Orders Volume 11 9 13 5 1 0 5
   Number of Employees 10 3 0 -5 -2 5 11
   Prices Received for Finished Product 14 2 10 -1 3 5 12
Expected Conditions in Six Months 13 21 11 12 10 12 16
   New Orders Volume 22 33 30 19 18 21 24
   Number of Employees 16 22 2 9 9 13 17
   Prices Received for Finished Product 32 31 21 24 24 24 29
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