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.