November’s Manufacturing Activity Falls

The Tenth District Manufacturing Survey’s Composite Index fell to 24 in November versus 31 in October. The latest index came in at 24, down 7 from last month’s 31, indicating continued expansion in November, but at a slower pace according to Kansas City Fed.

The future outlook ticked up to 35. Quarterly data for this indicator dates back to 1995, but monthly data is only available from 2001.

Tenth District manufacturing growth eased slightly, but expectations for future activity remained strong. The monthly index of raw materials prices dipped from a record high in October, but remained high, and almost every firm continued to report higher input prices compared to a year ago.

Expectations for future prices eased somewhat, but most district manufacturing firms still expect materials and finished goods prices to increase over the next six months.

Finished goods price indexes rose from a month ago and were above year ago levels for most firms.