September KC Fed
The KC Fed Manufacturing index for September came in at 17 vs 15.
- Last month remained unrevised at 16
- Factories in the region reported another good month
- Little impact from Gulf Coast hurricanes
- Prices paid 24 vs 21 last
- New orders falls to 10 from 25
- New orders for exports rise to 6 from 4
- Production 22 vs 22 last
- Employees 18 vs 14 last
- Avg employee workweek falls t0 7 from 9
- SHipments 25 vs 23 last
- 6 month outlook rises to 26 vs 23 last
Anecdotal comments from participants in the survey:
- It was a very strong month with nice Backlog of orders going to October
- We’re looking very good going into the last quarter of the year.
- Business activity is picking up. Competition for competent employees is fierce.
- Overall feel good with concern is lurking that the economy is reaching a very mature part of the cycle, squeezing margins from both sides
- Recent here group meeting had level of pessimism I have not seen in years. Changing consumer habits from traditional retail to online ordering has many examining their business models