Kansas City Fed Survey: Activity Expanded in January

The latest index came in at 24, up from 22 last month, indicating steady continued expansion in January. The future outlook rose to 37. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.

Quarterly data for this indicator dates back to 1995, but monthly data is only available from 2001.

Here is an excerpt from the latest report:

TKANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the January 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 continued to grow strongly, and expectations also increased further.

“Regional factory activity expanded at a faster pace in January,” said Wilkerson. “However, over half of firms indicated that 10% or more of their workers were out at some point in January due to COVID. Expectations for future activity remained strong, despite firms reporting difficulties from COVID, labor shortages, and continued supply chain issues.” [Full report 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 rose to 37.

For comparison, here is the latest ISM Manufacturing survey.