Kansas City Fed Survey: Continued Moderate 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. New seasonal adjustment factors were introduced in January 2017 and slight revisions were made to previous data as a result.

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 expanded moderately with solid expectations for future activity.

“We’ve now seen four months of steady gains following more rapid growth in factory activity earlier this year,” said Wilkerson. “Firms overall seem confident that moderate growth will continue.” [Full PDF release here]

Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.

Kansas City Manufacturing Composite

The next chart is an overlay of the general and future outlook indexes — the outlook six months ahead. Future factory indexes decreased in Julu to 19 from last month's 25.

For comparison, here is the latest ISM Manufacturing survey.

ISM Manufacturing PMI