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: Calculated Risk

Kansas City Fed: Manufacturing activity "continued at a solid pace" in December

By Anonymous

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From the Kansas City Fed: Survey of Tenth District Manufacturing

Tenth District manufacturing activity continued at a solid pace in December, and producers were increasingly optimistic about future activity. Price indexes in the survey rose further, with a marked increase in raw materials prices.

The net percentage of firms reporting month-over-month increases in production in December was 21, unchanged from 21 in November and up from 10 in October. ... The employment index increased to its highest level in three years, while the new orders for exports index edged down from 11 to 7.

This is the last of the regional Fed surveys for December. The regional surveys provide a hint about the ISM manufacturing index, as the following graph shows.

Click on graph for larger image in graph gallery.

The New York and Philly Fed surveys are averaged together (dashed green, through December), and averaged five Fed surveys (blue, through December) including New York, Philly, Richmond, Dallas and Kansas City. The Institute for Supply Management (ISM) PMI (red) is through November (right axis).

The regional surveys suggest an increase in manufacturing activity in December.

The ISM manufacturing index will released on Monday, Jan 3, 2011.

Full post as published by Calculated Risk on December 30, 2010 (boomark / email).