Kansas City Fed composite index for August
- Kansas City Fed composite index for August -6 versus -1 in July
- manufacturing index -2 versus -6 last month
- composite index fell to the lowest level since August 2016
- volume of new orders falls to -16 from -2 last month
- number of employees falls to -7 from -6
From the Kansas City Fed:
"Regional factory activity had its largest monthly drop in over three years and over 55% of the firms expected negative impacts from the latest round of US tariffs on Chinese goods. However even though many firms expected trade tensions to persist, expectations for future shipments and exports expanded slightly"
The composite index is an average of production, new orders, employment, supplier deliveries and raw materials inventory indexes.
