Manufacturing Weakens

Manufacturing activity weakened in December and firms’ expectations for future activity remained pessimistic.
Price indexes in the survey also fell for the second straight month, according to the December Manufacturing Survey report from the Oklahoma City Branch of the Federal Reserve Bank of Kansas City.
Among durable and nondurable goods producers, production fell at fewer plants than in November. The month-over-month factory indexes generally posted further declines from November’s weak numbers. However, both the employment and new orders for exports indexes recorded their lowest levels in the survey’s 14-year history. The raw materials inventory index fell in December to all-time low.
Nearly all year-over-year indexes were down in December. The production index decreased to an all time survey low. The shipments, new orders, and order backlog indexes all remained extremely weak.
Survey price indexes mostly fell for the second straight month.
The 10th District includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.

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