Estados Unidos - Índice de Manufatura Kansas Fed

The Kansas City Fed's Manufacturing Production Index fell to -5 in November 2019 from +8 in the previous month and compared with market forecasts of +9. The composite index, an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes, was unchanged at -3, driven by slower activity at durable goods plants, especially from decreases in primary metal, fabricated metal products, machinery, and computer and electronic products manufacturing. The new orders and employment indexes remained negative and the materials inventory index declined further. However, the shipments and supplier delivery time indexes expanded somewhat.

The Federal Reserve Bank of Kansas City Manufacturing Production Index fell to 8 in October 2019 from 11 in the previous month and compared with market forecasts of 4. The composite index, an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes, was driven by slower activity at durable goods plants, especially from decreases in nonmetallic mineral products, primary metal, fabricated metal products, machinery, computer and electronic products, and transportation equipment manufacturing. Most month-over-month indexes dropped, in particular the new orders index. Meanwhile, the production index remained positive, and the supplier delivery time index inched higher. The month-over-month price index for raw materials went down at a slower rate, while the price index for finished products expanded slightly. Firms expected prices to increase over the next 6 months.

The Federal Reserve Bank of Kansas City Manufacturing Production Index increased to +11 in September 2019 from -2 in the previous month and above market expectations of -3.9. Still, the Composite Index, an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes, continued to point to a contraction in the sector, driven by declines at durable goods plants, especially nonmetallic mineral products, primary metal, computer and electronic products, and transportation equipment manufacturing. The employment index dropped further in September, while the shipments index rebounded considerably. The month-over-month price index for raw materials continued to fall, while the price index for finished products inched higher. Firms continued to expect prices to rise over the next 6 months, but at a slower pace.

The Federal Reserve Bank of Kansas City Manufacturing Production Index increased to -2 in August 2019 from a seven-month low of -6 in the previous month and above market expectations of -10. Still, the latest reading pointed to a decline in activity, driven by declines at both durable and nondurable plants, but especially from decreases in primary metal, electrical equipment, appliances, paper, printing, and chemical manufacturing. Most indexes decreased in August, and the shipments and supplier delivery time indexes also turned negative. On the other hand, the future composite index edged higher to 11 from 9, as expectations for shipments, order backlog, employment, and new orders for exports grew slightly despite concerns about trade tensions.

The Federal Reserve Bank of Kansas City Manufacturing Production Index decreased to -6 in July 2019, the lowest level since last December, driven by a decline in activity at durable production plants, including computers, electronic products, appliances, and miscellaneous manufacturing The new orders, employment, and finished goods inventory indexes turned negative, while the volume of shipments was flat after last month’s slowdown, and supplier delivery time increased.