Details of the US KC Fed manufacturing index data report for June
- Prior -13
- Manufacturing -21 vs -13 prior
- Employment -9 vs -17 prior
- New orders -3 vs -19 prior
- Prices paid +13 vs -6 prior
- Prices rec'd -2 vs -4 prior
The May report highlighted that aircraft production took a hit and look how Durables turned out on Tuesday. That's still a theme in the June report though overall durable manufacturing picked up
Here's the view from the survey respondents;
"We have seen business related to oil and gas fall off sharply this year. We are also seeing business related to other
industries to be softer than expected. My feelings and that shared by colleagues at other companies is that the
manufacturing economy is not as strong as portrayed in the national media."
"Many of our customers sell to the oil industry and the lower prices have reduced new orders to us by around 50%."
"Foreign currency issues are having a major impact on our business."
"We have seen a substantial pick up in business in June after a very slow May. Not having real hot weather yet has
probably been a plus for us."
"The recent reduction in production, shipment and labor hours is due to the consistent rain in our area."
"We are turning to greater automation because of price pressures. 3D printers are becoming more powerful and less
expensive. We will increase our use of that technology for our prototyping efforts."
"Technology continues to improve our efficiency on the shop floor, equipment and machinery."
There's even some blame on the weather
