Southeastern Manufacturing Survey - April 1996 (March data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              30.9%    45.0%    24.1%    -6.7
Volume of Shipments                     29.6%    42.5%    27.9%    -1.6
Volume of New Orders                    32.4%    40.2%    27.5%    -4.9
Backlog of Orders                       31.6%    47.6%    20.8%   -10.9
Materials Inventories                   22.9%    53.1%    24.1%     1.2
Finished Goods Inventories              27.2%    43.3%    29.5%     2.3
Number of Employees                     19.6%    63.4%    17.0%    -2.6
Average Employee Workweek               17.6%    66.2%    16.2%    -1.3
Prices Received for Finished Goods      20.5%    75.4%     4.1%   -16.4
Prices Paid for Raw Materials           17.3%    70.1%    12.6%    -4.7
Volume of New Orders for Exports        15.1%    79.1%     5.9%    -9.2
Supplier Delivery Time                   7.9%    84.2%     7.9%     0.0
INDUSTRY BUSINESS ACTIVITY              28.6%    49.0%    22.3%    -6.3

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.9%    29.9%    50.2%    30.2
Volume of Shipments                     21.4%    24.8%    53.8%    32.4
Volume of New Orders                    19.6%    35.2%    45.2%    25.6
Backlog of Orders                       22.8%    48.5%    28.7%     5.9
Materials Inventories                   27.0%    56.9%    16.1%   -10.9
Finished Goods Inventories              35.2%    45.4%    19.4%   -15.9
Number of Employees                     25.6%    55.1%    19.3%    -6.3
Average Employee Workweek               16.3%    65.8%    17.9%     1.6
Prices Received for Finished Goods      19.9%    54.4%    25.7%     5.9
Prices Paid for Raw Materials           19.8%    50.0%    30.2%    10.4
Capital Expenditures                    16.2%    55.2%    28.6%    12.5
Volume of New Orders for Exports        12.2%    63.3%    24.5%    12.2
Supplier Delivery Time                   9.9%    78.3%    13.3%    -3.4
INDUSTRY BUSINESS ACTIVITY              21.5%    32.2%    46.3%    24.8

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              33.0%    41.4%    25.7%    -7.3
Volume of Shipments                     37.3%    27.1%    35.7%    -1.6
Volume of New Orders                    39.2%    36.1%    24.7%   -14.5
Backlog of Orders                       37.4%    43.1%    19.6%   -17.8
Materials Inventories                   24.2%    57.0%    18.8%    -5.4
Finished Goods Inventories              26.3%    47.9%    25.7%    -0.6
Number of Employees                     18.6%    69.4%    12.0%    -6.6
Average Employee Workweek               22.7%    58.8%    18.5%    -4.2
Prices Received for Finished Goods      21.4%    68.3%    10.3%   -11.1
Prices Paid for Raw Materials           17.7%    66.0%    16.3%    -1.5
Volume of New Orders for Exports        11.9%    75.5%    12.6%     0.7
Supplier Delivery Time                   4.8%    85.5%     9.7%    -4.8
INDUSTRY BUSINESS ACTIVITY              35.0%    42.3%    22.8%   -12.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.6%    33.1%    47.3%    27.7
Volume of Shipments                     21.5%    27.2%    51.3%    29.8
Volume of New Orders                    18.5%    33.1%    48.4%    30.0
Backlog of Orders                       20.7%    48.2%    31.2%    10.5
Materials Inventories                   26.4%    62.3%    11.4%   -15.0
Finished Goods Inventories              36.7%    47.6%    15.6%   -21.1
Number of Employees                     23.0%    55.2%    21.9%    -1.1
Average Employee Workweek               17.3%    61.3%    21.4%     4.1
Prices Received for Finished Goods      19.1%    58.3%    22.6%     3.5
Prices Paid for Raw Materials           14.3%    50.0%    35.7%    21.4
Capital Expenditures                    15.6%    61.5%    22.9%     7.3
Volume of New Orders for Exports        10.5%    66.7%    22.9%    12.4
Supplier Delivery Time                   4.2%    85.0%    10.4%    -6.2
INDUSTRY BUSINESS ACTIVITY              17.0%    36.7%    46.2%    29.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              23.8%    41.8%    34.4%    10.7
Volume of Shipments                     22.3%    39.7%    38.0%    15.7
Volume of New Orders                    26.2%    41.0%    32.8%     6.6
Backlog of Orders                       26.5%    47.9%    25.6%    -0.9
Materials Inventories                   19.7%    55.7%    24.6%     4.9
Finished Goods Inventories              22.9%    44.1%    33.1%    10.2
Number of Employees                     18.9%    63.9%    17.2%    -1.6
Average Employee Workweek               15.6%    67.2%    17.2%     1.6
Prices Received for Finished Goods      20.5%    75.4%     4.1%   -16.4
Prices Paid for Raw Materials           15.8%    70.8%    13.3%    -2.5
Volume of New Orders for Exports        14.8%    75.0%    10.2%    -4.6
Supplier Delivery Time                   7.9%    84.2%     7.9%     0.0
INDUSTRY BUSINESS ACTIVITY              24.8%    45.5%    29.8%     5.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.3%    31.9%    48.7%    29.4
Volume of Shipments                     21.0%    26.1%    52.9%    31.9
Volume of New Orders                    19.3%    33.6%    47.1%    27.7
Backlog of Orders                       23.0%    48.7%    28.3%     5.3
Materials Inventories                   28.8%    57.6%    13.6%   -15.3
Finished Goods Inventories              37.4%    45.2%    17.4%   -20.0
Number of Employees                     26.1%    54.6%    19.3%    -6.7
Average Employee Workweek               17.6%    64.7%    17.6%     0.0
Prices Received for Finished Goods      20.2%    54.6%    25.2%     5.0
Prices Paid for Raw Materials           19.5%    54.2%    26.3%     6.8
Capital Expenditures                    17.4%    55.7%    27.0%     9.6
Volume of New Orders for Exports        12.2%    63.3%    24.5%    12.2
Supplier Delivery Time                   9.8%    79.5%    10.7%    -0.9
INDUSTRY BUSINESS ACTIVITY              19.7%    34.2%    46.2%    26.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              44.6%    14.1%    41.3%    -3.3
Volume of Shipments                     46.3%    12.4%    41.3%    -5.0
Volume of New Orders                    45.5%    16.5%    38.0%    -7.4
Backlog of Orders                       38.8%    33.6%    27.6%   -11.2
Materials Inventories                   30.8%    39.2%    30.0%    -0.8
Finished Goods Inventories              30.8%    36.8%    32.5%     1.7
Number of Employees                     35.5%    38.0%    26.4%    -9.1
Average Employee Workweek               25.8%    57.5%    16.7%    -9.2
Prices Received for Finished Goods      29.8%    32.2%    38.0%     8.3
Prices Paid for Raw Materials           20.0%    22.5%    57.5%    37.5
Capital Expenditures                    25.4%    47.4%    27.2%     1.8
Volume of New Orders for Exports        19.4%    60.2%    20.4%     1.0
Supplier Delivery Time                  13.0%    64.3%    22.6%    -9.6
INDUSTRY BUSINESS ACTIVITY              43.6%    20.5%    35.9%    -7.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.9%    41.4%    29.7%     0.8
Volume of Shipments                     33.1%    28.3%    38.6%     5.5
Volume of New Orders                    34.6%    37.0%    28.3%    -6.3
Backlog of Orders                       32.3%    45.2%    22.6%    -9.7
Materials Inventories                   20.0%    60.8%    19.2%    -0.8
Finished Goods Inventories              21.3%    48.4%    30.3%     9.0
Number of Employees                     16.7%    69.8%    13.5%    -3.2
Average Employee Workweek               19.0%    62.7%    18.3%    -0.8
Prices Received for Finished Goods      21.4%    68.3%    10.3%   -11.1
Prices Paid for Raw Materials           17.2%    64.8%    18.0%     0.8
Volume of New Orders for Exports        10.2%    77.6%    12.2%     2.0
Supplier Delivery Time                   4.8%    85.5%     9.7%    -4.8
INDUSTRY BUSINESS ACTIVITY              32.0%    43.8%    24.2%    -7.8

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.7%    33.3%    50.0%    33.3
Volume of Shipments                     17.5%    27.8%    54.8%    37.3
Volume of New Orders                    16.5%    33.1%    50.4%    33.9
Backlog of Orders                       17.7%    47.6%    34.7%    16.9
Materials Inventories                   23.8%    61.9%    14.3%    -9.5
Finished Goods Inventories              38.2%    45.5%    16.3%   -22.0
Number of Employees                     20.5%    56.7%    22.8%     2.4
Average Employee Workweek               13.4%    62.2%    24.4%    11.0
Prices Received for Finished Goods      18.3%    55.6%    26.2%     7.9
Prices Paid for Raw Materials           14.6%    50.4%    35.0%    20.3
Capital Expenditures                    13.1%    61.5%    25.4%    12.3
Volume of New Orders for Exports        10.5%    66.7%    22.9%    12.4
Supplier Delivery Time                   6.5%    84.6%     8.9%    -2.4
INDUSTRY BUSINESS ACTIVITY              13.9%    35.2%    50.8%    36.9

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              39.4%    21.3%    39.4%     0.0
Volume of Shipments                     39.7%    18.3%    42.1%     2.4
Volume of New Orders                    38.6%    25.2%    36.2%    -2.4
Backlog of Orders                       41.5%    32.5%    26.0%   -15.4
Materials Inventories                   31.7%    46.0%    22.2%    -9.5
Finished Goods Inventories              28.2%    38.7%    33.1%     4.8
Number of Employees                     40.2%    29.1%    30.7%    -9.5
Average Employee Workweek               24.4%    54.3%    21.3%    -3.2
Prices Received for Finished Goods      30.7%    23.6%    45.7%    15.0
Prices Paid for Raw Materials           19.5%    23.6%    56.9%    37.4
Capital Expenditures                    21.0%    49.6%    29.4%     8.4
Volume of New Orders for Exports        14.4%    62.5%    23.1%     8.7
Supplier Delivery Time                   9.7%    70.2%    20.2%   -10.5
INDUSTRY BUSINESS ACTIVITY              44.9%    25.2%    29.9%   -15.0