Kansas City Fed Survey: Continued Growth in July
The Kansas City Fed Manufacturing Survey business conditions indicator measures activity in the following states: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, western Missouri, and northern New Mexico.
Quarterly data for this indicator dates back to 1995, but monthly data is only available from 2001.
Here is an excerpt from the latest report:
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the July Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to grow slightly after sharply decreasing in the spring. Activity still remained well below year-ago levels, while expectations for future activity continued to improve slightly.
“Regional factory activity continued to expand slightly in July, but was still well below year-ago levels,” said Wilkerson. “Of those surveyed, 44% of firms said that their business costs have increased in the past 6 months, but expectations for future activity and employment continued to improve.” [Full report here]
Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
The next chart is an overlay of the general and future outlook indexes — the outlook six months ahead. Future factory indexes increased in July from 9 from last month to 14.
For comparison, here is the latest ISM Manufacturing survey.