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Economy in Brief

Kansas City Fed Index; Factory Sector Activity & Pricing Power Eased
by Tom Moeller  June 27, 2014

The Federal Reserve Bank of Kansas City reported that its June Composite index of 10th District factory sector activity eased to 6 versus 10 in May. The latest figure remained, nevertheless, in the range of readings earlier in the year and improved versus the lows of early 2013. The composite index is an average of the production, new orders, employment, supplier delivery time and raw materials inventory indexes. The prices paid index eased to its lowest level since last July.

The expectations reading deteriorated m/m but it remained above the current conditions index, suggesting future improvement in business conditions. Most of the component series remained positive, notably new orders, shipments, employment, the average workweek, prices received and capital expenditures.

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.

Stress Testing after Five Years from Fed Governor Daniel K. Tarullo is available here.

Kansas City Federal Reserve Manufacturing Survey (SA) Jun May Apr Jun '13 2013 2012 2011
Conditions Versus One Month Ago (% Balance) 6 10 7 -5 0 4 9
   New Orders Volume 8 11 9 -7 1 0 5
   Number of Employees 1 10 3 -1 -2 5 11
   Prices Received for Finished Product 2 14 2 3 3 5 12
Expected Conditions in Six Months 12 13 21 11 10 12 16
   New Orders Volume 14 22 33 24 18 21 24
   Number of Employees 14 16 22 7 9 13 17
   Prices Received for Finished Product 28 32 31 23 24 24 29
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