Washington, DC, October 27, 2006--The Kansas City Federal Reserve Bank said today that 10th District manufacturing activity in October is sluggish.
The Fed, in its monthly manufacturing survey, also said plant managers were less optimistic about near-term manufacturing output than in previous surveys.
It said the net percentage of firms reporting month-over-month production increased to nine in October, which is up from September but lower than readings in the spring and summer.
Other survey readings:
• Durable and nondurable manufacturers posted modest gains for the month
• The year-over-year production index climbed from 33 to 35
• The future production index fell from 25 to 20, the lowest reading in more than four years
The 10th District includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri. The October survey had 121 responses from manufacturing plants in the 10th District.
