There were no signs of life today in the Kansas City Region Fed Manufacturing Survey.
Production, shipping, new orders, backlog of orders, number of employees, and new export orders were all in negative territory.
Workweek likely rose due to employment falling more. Note that prices received declined but prices paid rose.
Since March of 2015, the Kansas City index was in positive territory only twice. Once was at +2, the other at +1.0.
Above chart from Bloomberg Econoday.
- August 15: Empire State Manufacturing Index Dips 5 Points to -4.2
- August 18: Peeking Under the Hood of the Philly Fed Manufacturing Positive Headline
- August 23: Richmond Fed Manufacturing Disaster: Activity, New Orders, Shipments Plunge
- August 25: No Signs of Life in Fed Manufacturing Reports: Add Kansas City to List (This Report)
Signs of life were purportedly spotted in today’s durable goods report. For details, please see Durable Goods Orders Up 4.4 Percent: Signs of Manufacturing Life?.
Mike “Mish” Shedlock