Southeastern Manufacturing Survey - April 1998 (March data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
March 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.9     44.4     34.7     13.9
Volume of Shipments                     22.3     36.7     40.9     18.6
Volume of New Orders                    17.3     43.4     39.3     22.0
Backlog of Orders                       22.2     53.4     24.4      2.2
Materials Inventories                   23.1     58.5     18.5     -4.6
Finished Goods Inventories              29.6     50.4     20.1     -9.5
Number of Employees                      8.6     71.3     20.2     11.6
Average Employee Workweek               11.2     70.3     18.5      7.2
Prices Received for Finished Goods*      8.1     76.8     15.2      7.1
Prices Paid for Raw Materials*          14.4     68.0     17.5      3.1
Volume of New Orders for Exports*        9.0     75.6     15.4      6.4
Supplier Delivery Time*                  8.5     90.4      1.1      7.5
INDUSTRY BUSINESS ACTIVITY               9.5     54.9     35.6     26.1

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
March 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.1     34.2     53.6     41.5
Volume of Shipments                     15.6     30.2     54.2     38.6
Volume of New Orders                    12.6     41.5     45.9     33.4
Backlog of Orders                       18.3     53.3     28.4     10.1
Materials Inventories                   15.6     62.3     22.1      6.4
Finished Goods Inventories              20.5     53.0     26.5      6.0
Number of Employees                     13.3     58.7     28.0     14.7
Average Employee Workweek                9.6     73.5     16.9      7.2
Prices Received for Finished Goods       6.5     69.4     24.1     17.6
Prices Paid for Raw Materials            8.2     56.4     35.4     27.2
Capital Expenditures                     8.0     52.8     39.3     31.3
Volume of New Orders for Exports*       13.4     63.4     23.2      9.8
Supplier Delivery Time*                  4.3     91.4      4.3      0.0
INDUSTRY BUSINESS ACTIVITY              14.3     39.1     46.6     32.3

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
February 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.3     38.3     42.3     23.0
Volume of Shipments                     23.6     34.9     41.6     18.0
Volume of New Orders                    22.0     43.1     34.9     12.9
Backlog of Orders                       26.2     47.9     26.0     -0.2
Materials Inventories                   21.1     59.4     19.5     -1.6
Finished Goods Inventories              30.1     51.0     18.9    -11.2
Number of Employees                      9.5     67.7     22.8     13.3
Average Employee Workweek               16.8     63.0     20.2      3.4
Prices Received for Finished Goods*     11.0     78.0     11.0      0.0
Prices Paid for Raw Materials*          20.9     66.4     12.7     -8.2
Volume of New Orders for Exports*        9.3     73.3     17.4      8.1
Supplier Delivery Time*                 10.6     87.5      1.9      8.7
INDUSTRY BUSINESS ACTIVITY              20.3     44.2     35.5     15.2

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
February 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.9     33.4     53.7     40.9
Volume of Shipments                     13.2     38.1     48.7     35.5
Volume of New Orders                    12.1     41.5     46.4     34.2
Backlog of Orders                       15.0     61.8     23.2      8.2
Materials Inventories                   22.0     55.1     22.9      0.9
Finished Goods Inventories              19.0     59.1     21.9      2.9
Number of Employees                     17.5     52.8     29.7     12.2
Average Employee Workweek               14.7     66.1     19.2      4.5
Prices Received for Finished Goods       9.3     61.3     29.4     20.1
Prices Paid for Raw Materials           11.0     56.4     32.6     21.6
Capital Expenditures                    12.6     52.1     35.3     22.7
Volume of New Orders for Exports*        9.8     60.9     29.3     19.6
Supplier Delivery Time*                  7.8     89.3      2.9      4.9
INDUSTRY BUSINESS ACTIVITY              15.1     37.4     47.5     32.3

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
March 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.3     45.9     40.8     27.6
Volume of Shipments                     13.4     37.1     49.5     36.1
Volume of New Orders                     9.1     45.5     45.5     36.4
Backlog of Orders                       17.7     54.2     28.1     10.4
Materials Inventories                   22.2     59.6     18.2     -4.0
Finished Goods Inventories              25.0     49.0     26.0      1.0
Number of Employees                      7.1     70.7     22.2     15.2
Average Employee Workweek                9.1     72.7     18.2      9.1
Prices Received for Finished Goods       8.1     76.8     15.2      7.1
Prices Paid for Raw Materials           14.4     68.0     17.5      3.1
Volume of New Orders for Exports         9.0     75.6     15.4      6.4
Supplier Delivery Time                   8.5     90.4      1.1      7.5
INDUSTRY BUSINESS ACTIVITY               6.1     51.5     42.4     36.4



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
March 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.3     32.7     54.1     40.8
Volume of Shipments                     16.7     28.1     55.2     38.5
Volume of New Orders                    15.2     39.4     45.5     30.3
Backlog of Orders                       21.1     49.5     29.5      8.4
Materials Inventories                   19.2     60.6     20.2      1.0
Finished Goods Inventories              25.0     51.0     24.0     -1.0
Number of Employees                     14.3     59.2     26.5     12.2
Average Employee Workweek               10.3     72.2     17.5      7.2
Prices Received for Finished Goods       7.1     69.7     23.2     16.2
Prices Paid for Raw Materials            6.1     60.2     33.7     27.6
Capital Expenditures                     8.4     53.7     37.9     29.5
Volume of New Orders for Exports        13.4     63.4     23.2      9.8
Supplier Delivery Time                   4.3     91.4      4.3      0.0
INDUSTRY BUSINESS ACTIVITY              15.2     36.4     48.5     33.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
March 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              30.6     17.3     52.0     21.4
Volume of Shipments                     31.3     14.6     54.2     22.9
Volume of New Orders                    25.3     22.2     52.5     27.3
Backlog of Orders                       27.1     36.5     36.5      9.4
Materials Inventories                   27.6     43.9     28.6      1.0
Finished Goods Inventories              30.2     40.6     29.2     -1.0
Number of Employees                     27.3     37.4     35.4      8.1
Average Employee Workweek               23.5     60.2     16.3     -7.1
Prices Received for Finished Goods      22.2     42.4     35.4     13.1
Prices Paid for Raw Materials           20.4     31.6     48.0     27.6
Capital Expenditures                    20.2     45.7     34.0     13.8
Volume of New Orders for Exports        14.6     59.8     25.6     11.0
Supplier Delivery Time                   8.6     81.7      9.7     -1.1
INDUSTRY BUSINESS ACTIVITY              16.3     28.6     55.1     38.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
February 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.3     39.1     43.6     26.4
Volume of Shipments                     17.3     37.3     45.5     28.2
Volume of New Orders                    17.3     45.5     37.3     20.0
Backlog of Orders                       24.5     48.1     27.4      2.8
Materials Inventories                   17.6     63.0     19.4      1.9
Finished Goods Inventories              25.5     50.9     23.6     -1.9
Number of Employees                      8.2     69.1     22.7     14.6
Average Employee Workweek               13.6     63.6     22.7      9.1
Prices Received for Finished Goods      11.0     78.0     11.0      0.0
Prices Paid for Raw Materials           20.9     66.4     12.7     -8.2
Volume of New Orders for Exports         9.3     73.3     17.4      8.1
Supplier Delivery Time                  10.6     87.5      1.9      8.7
INDUSTRY BUSINESS ACTIVITY              19.4     43.5     37.0     17.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
February 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              10.9     32.7     56.4     45.5
Volume of Shipments                     10.1     36.7     53.2     43.1
Volume of New Orders                    10.1     40.4     49.5     39.5
Backlog of Orders                       12.4     61.9     25.7     13.3
Materials Inventories                   22.6     55.7     21.7     -0.9
Finished Goods Inventories              22.1     57.7     20.2     -1.9
Number of Employees                     16.5     51.4     32.1     15.6
Average Employee Workweek               11.9     63.3     24.8     12.8
Prices Received for Finished Goods       8.4     60.7     30.8     22.4
Prices Paid for Raw Materials           13.9     54.6     31.5     17.6
Capital Expenditures                    12.6     54.4     33.0     20.4
Volume of New Orders for Exports         9.8     60.9     29.3     19.6
Supplier Delivery Time                   7.8     89.3      2.9      4.9
INDUSTRY BUSINESS ACTIVITY               9.6     34.6     55.8     46.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
February 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.7     19.1     48.2     15.5
Volume of Shipments                     36.4     20.0     43.6      7.3
Volume of New Orders                    27.3     27.3     45.5     18.2
Backlog of Orders                       27.6     42.9     29.5      1.9
Materials Inventories                   28.4     50.5     21.1     -7.3
Finished Goods Inventories              22.6     50.0     27.4      4.7
Number of Employees                     22.7     40.0     37.3     14.6
Average Employee Workweek               21.8     57.3     20.9     -0.9
Prices Received for Finished Goods      22.0     35.8     42.2     20.2
Prices Paid for Raw Materials           27.3     28.2     44.5     17.3
Capital Expenditures                    15.5     46.6     37.9     22.3
Volume of New Orders for Exports        15.1     58.1     26.9     11.8
Supplier Delivery Time                  17.6     78.4      3.9     13.7
INDUSTRY BUSINESS ACTIVITY              26.2     30.8     43.0     16.8