Kansas City Fed District Shows Solid Manufacturing Growth

Manufacturing activity in the Kansas City Fed's district posted very solid growth in February, with the composite score beating expectations by rising 1 point to 17. The production component of the index rose 5 points to 21, as factory activity increased particularly for the production of metals, machinery, and plastics. Strength was also registered in shipments, up 10 from the prior month to 24, and employment, with the number of employees component up 5 points to 23 and the average workweek up 9 points to 11. Both prices received and prices paid saw increases, but especially the latter, with the component jumping 16 points to 50.

Recent History Of This Indicator:
The Kansas City manufacturing report, like other regional reports, has held steady and strong, at a composite score of 16 in January with February's consensus at 16.5. New orders and backlogs were both very strong in January.