Southeastern Manufacturing Survey - April 1999 (March data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.1     33.5     46.4     26.3
Volume of Shipments                     20.9     32.3     46.8     26.0
Volume of New Orders                    21.7     39.7     38.6     16.9
Backlog of Orders                       18.5     54.7     26.9      8.4
Materials Inventories                   16.8     67.8     15.4     -1.3
Finished Goods Inventories              27.6     54.3     18.1     -9.5
Number of Employees                     13.0     66.5     20.5      7.6
Average Employee Workweek                9.5     72.9     17.7      8.2
Prices Received for Finished Goods*     14.3     76.2      9.5     -4.8
Prices Paid for Raw Materials*          16.7     66.7     16.7      0.0
Volume of New Orders for Exports*        7.9     79.4     12.7      4.8
Supplier Delivery Time*                  3.7     93.8      2.5      1.2
INDUSTRY BUSINESS ACTIVITY              13.4     59.0     27.6     14.3

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.8     39.6     46.6     32.8
Volume of Shipments                     15.3     35.8     48.9     33.6
Volume of New Orders                    14.2     42.1     43.7     29.5
Backlog of Orders                       21.3     58.4     20.3     -1.0
Materials Inventories                   14.5     68.8     16.7      2.2
Finished Goods Inventories              24.1     54.6     21.3     -2.8
Number of Employees                     18.1     52.2     29.7     11.6
Average Employee Workweek               17.5     62.8     19.7      2.3
Prices Received for Finished Goods      12.7     58.2     29.1     16.4
Prices Paid for Raw Materials           16.8     54.0     29.2     12.4
Capital Expenditures                    19.9     46.9     33.1     13.2
Volume of New Orders for Exports*        7.5     76.1     16.4      9.0
Supplier Delivery Time*                  2.5     94.9      2.5      0.0
INDUSTRY BUSINESS ACTIVITY              15.6     45.0     39.5     23.9

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.3     48.1     33.7     15.4
Volume of Shipments                     20.9     44.1     35.0     14.1
Volume of New Orders                    21.5     44.1     34.4     12.9
Backlog of Orders                       18.4     52.8     28.8     10.3
Materials Inventories                   16.6     65.1     18.3      1.7
Finished Goods Inventories              23.0     60.6     16.4     -6.6
Number of Employees                     12.1     64.7     23.2     11.1
Average Employee Workweek               14.1     69.5     16.5      2.4
Prices Received for Finished Goods*     12.9     73.1     14.0      1.1
Prices Paid for Raw Materials*          20.9     64.8     14.3     -6.6
Volume of New Orders for Exports*       10.0     80.0     10.0      0.0
Supplier Delivery Time*                  3.4     92.0      4.6     -1.2
INDUSTRY BUSINESS ACTIVITY              15.1     56.0     28.8     13.7

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              10.8     40.1     49.1     38.3
Volume of Shipments                     12.9     35.9     51.2     38.3
Volume of New Orders                    12.1     40.5     47.4     35.4
Backlog of Orders                       17.3     51.9     30.8     13.5
Materials Inventories                   15.2     67.7     17.2      2.1
Finished Goods Inventories              23.4     54.8     21.9     -1.5
Number of Employees                     21.4     58.6     20.0     -1.5
Average Employee Workweek               18.2     64.8     17.0     -1.2
Prices Received for Finished Goods      10.1     63.9     26.0     15.9
Prices Paid for Raw Materials           10.9     52.1     37.1     26.2
Capital Expenditures                    12.0     51.4     36.6     24.6
Volume of New Orders for Exports*        6.8     74.0     19.2     12.3
Supplier Delivery Time*                  3.5     93.0      3.5      0.0
INDUSTRY BUSINESS ACTIVITY              15.6     45.7     38.6     23.0

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.8     34.1     54.1     42.4
Volume of Shipments                      9.5     32.1     58.3     48.8
Volume of New Orders                    15.3     40.0     44.7     29.4
Backlog of Orders                       13.9     55.7     30.4     16.5
Materials Inventories                   16.9     67.5     15.7     -1.2
Finished Goods Inventories              24.7     53.1     22.2     -2.5
Number of Employees                     10.6     67.1     22.4     11.8
Average Employee Workweek                5.9     75.3     18.8     12.9
Prices Received for Finished Goods      14.3     76.2      9.5     -4.8
Prices Paid for Raw Materials           16.7     66.7     16.7      0.0
Volume of New Orders for Exports         7.9     79.4     12.7      4.8
Supplier Delivery Time                   3.7     93.8      2.5      1.2
INDUSTRY BUSINESS ACTIVITY               8.3     56.0     35.7     27.4



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.3     36.5     48.2     32.9
Volume of Shipments                     15.3     32.9     51.8     36.5
Volume of New Orders                    16.5     41.2     42.4     25.9
Backlog of Orders                       24.1     54.4     21.5     -2.5
Materials Inventories                   18.1     66.3     15.7     -2.4
Finished Goods Inventories              27.2     53.1     19.8     -7.4
Number of Employees                     18.8     50.6     30.6     11.8
Average Employee Workweek               18.8     60.0     21.2      2.4
Prices Received for Finished Goods      11.9     58.3     29.8     17.9
Prices Paid for Raw Materials           15.5     57.1     27.4     11.9
Capital Expenditures                    21.0     45.7     33.3     12.4
Volume of New Orders for Exports         7.5     76.1     16.4      9.0
Supplier Delivery Time                   2.5     94.9      2.5      0.0
INDUSTRY BUSINESS ACTIVITY              15.3     41.2     43.5     28.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.1     23.5     49.4     22.4
Volume of Shipments                     28.2     20.0     51.8     23.5
Volume of New Orders                    29.4     23.5     47.1     17.7
Backlog of Orders                       29.5     38.5     32.1      2.6
Materials Inventories                   19.3     54.2     26.5      7.2
Finished Goods Inventories              19.8     45.7     34.6     14.8
Number of Employees                     22.4     45.9     31.8      9.4
Average Employee Workweek               11.8     62.4     25.9     14.1
Prices Received for Finished Goods      31.0     44.0     25.0     -6.0
Prices Paid for Raw Materials           36.1     34.9     28.9     -7.2
Capital Expenditures                    25.9     42.0     32.1      6.2
Volume of New Orders for Exports        17.9     64.2     17.9      0.0
Supplier Delivery Time                   5.1     91.1      3.8      1.3
INDUSTRY BUSINESS ACTIVITY              25.9     24.7     49.4     23.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.9     50.5     36.6     23.7
Volume of Shipments                     12.9     48.4     38.7     25.8
Volume of New Orders                    15.1     48.4     36.6     21.5
Backlog of Orders                       17.0     52.3     30.7     13.6
Materials Inventories                   14.1     67.4     18.5      4.4
Finished Goods Inventories              19.1     61.8     19.1      0.0
Number of Employees                      9.7     65.6     24.7     15.1
Average Employee Workweek               10.8     69.9     19.4      8.6
Prices Received for Finished Goods      12.9     73.1     14.0      1.1
Prices Paid for Raw Materials           20.9     64.8     14.3     -6.6
Volume of New Orders for Exports        10.0     80.0     10.0      0.0
Supplier Delivery Time                   3.4     92.0      4.6     -1.2
INDUSTRY BUSINESS ACTIVITY              12.2     58.9     28.9     16.7



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               7.6     39.1     53.3     45.7
Volume of Shipments                      8.7     35.9     55.4     46.7
Volume of New Orders                     8.8     40.7     50.5     41.8
Backlog of Orders                       13.8     51.7     34.5     20.7
Materials Inventories                   14.6     68.5     16.9      2.3
Finished Goods Inventories              23.9     55.7     20.5     -3.4
Number of Employees                     20.9     57.1     22.0      1.1
Average Employee Workweek               15.2     64.1     20.7      5.4
Prices Received for Finished Goods       7.6     66.3     26.1     18.5
Prices Paid for Raw Materials           12.2     50.0     37.8     25.6
Capital Expenditures                    11.9     53.6     34.5     22.6
Volume of New Orders for Exports         6.8     74.0     19.2     12.3
Supplier Delivery Time                   3.5     93.0      3.5      0.0
INDUSTRY BUSINESS ACTIVITY               9.1     44.3     46.6     37.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.3     18.3     49.5     17.2
Volume of Shipments                     30.1     21.5     48.4     18.3
Volume of New Orders                    28.0     22.6     49.5     21.5
Backlog of Orders                       29.9     44.8     25.3     -4.6
Materials Inventories                   22.2     48.9     28.9      6.7
Finished Goods Inventories              22.5     46.1     31.5      9.0
Number of Employees                     27.2     35.9     37.0      9.8
Average Employee Workweek               16.1     54.8     29.0     12.9
Prices Received for Finished Goods      31.5     44.6     23.9     -7.6
Prices Paid for Raw Materials           36.3     33.0     30.8     -5.5
Capital Expenditures                    18.1     47.0     34.9     16.9
Volume of New Orders for Exports        19.2     65.8     15.1     -4.1
Supplier Delivery Time                   8.0     85.1      6.9      1.2
INDUSTRY BUSINESS ACTIVITY              31.5     21.3     47.2     15.7