Kansas City Fed Survey: Activity Slows in November

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 November Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that growth in Tenth District manufacturing activity slowed slightly but remained solid, and optimism for future activity remained high.

“Factories reported another good month in November. However, a number of firms noted increasing difficulty finding skilled labor,” said Wilkerson. [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 November to 27 from last month's 32.

For comparison, here is the latest ISM Manufacturing survey.

ISM Manufacturing PMI