Prior month was at 23
The Kansas City Fed manufacturing activity index for November came in at 16 verses 21 estimate. This is down from a reading of 23 in October.
From the KC Fed:
- A number of firms noted increasing difficulty finding skilled labor
- prices paid for raw materials fell to 24 versus 25 last month
- volume for new orders fell to 22 from 27
- new orders for exports fell to -2 from +8
- number of employees fell to 16 from 21
- average employee work week fell to 7 from 12
- Shipments fell to 20 from 25
- Composite six-month outlook fell to 27 versus 32
A lot of "fell(s)" in the components.
