Southeastern Manufacturing Survey - August 1996 (July data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.4%    44.0%    33.5%    11.1
Volume of Shipments                     23.7%    38.6%    37.7%    14.0
Volume of New Orders                    25.4%    45.5%    29.1%     3.7
Backlog of Orders                       33.8%    45.0%    21.2%   -12.5
Materials Inventories                   24.3%    62.6%    13.1%   -11.2
Finished Goods Inventories              40.0%    38.6%    21.4%   -18.6
Number of Employees                     16.7%    67.2%    16.2%    -0.5
Average Employee Workweek               14.7%    68.6%    16.7%     2.0
Prices Received for Finished Goods      12.7%    76.4%    10.9%    -1.8
Prices Paid for Raw Materials           12.0%    63.9%    24.2%    12.2
Volume of New Orders for Exports        11.0%    76.6%    12.4%     1.4
Supplier Delivery Time                  12.3%    78.3%     9.4%     2.8
INDUSTRY BUSINESS ACTIVITY              22.3%    51.5%    26.3%     4.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.0%    38.8%    49.3%    37.3
Volume of Shipments                     17.5%    34.7%    47.8%    30.3
Volume of New Orders                    16.3%    36.0%    47.7%    31.4
Backlog of Orders                       24.9%    54.8%    20.3%    -4.7
Materials Inventories                   16.8%    64.3%    18.9%     2.0
Finished Goods Inventories              17.9%    59.7%    22.4%     4.5
Number of Employees                     25.1%    56.8%    18.1%    -6.9
Average Employee Workweek               11.8%    75.8%    12.4%     0.7
Prices Received for Finished Goods      18.1%    55.1%    26.8%     8.7
Prices Paid for Raw Materials           15.8%    45.4%    38.8%    23.0
Capital Expenditures                     9.6%    59.0%    31.4%    21.8
Volume of New Orders for Exports         7.1%    69.4%    23.5%    16.5
Supplier Delivery Time                   3.9%    83.4%    12.8%    -8.9
INDUSTRY BUSINESS ACTIVITY              15.9%    38.4%    45.7%    29.9

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JUL96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.3%    41.5%    33.2%     7.9
Volume of Shipments                     29.0%    37.6%    33.4%     4.3
Volume of New Orders                    29.7%    38.6%    31.7%     2.0
Backlog of Orders                       30.0%    45.3%    24.7%    -5.3
Materials Inventories                   22.1%    57.9%    20.0%    -2.2
Finished Goods Inventories              35.5%    45.7%    18.9%   -16.6
Number of Employees                     10.1%    70.4%    19.5%     9.4
Average Employee Workweek               15.8%    60.6%    23.6%     7.8
Prices Received for Finished Goods      15.7%    74.0%    10.2%    -5.5
Prices Paid for Raw Materials           10.7%    67.1%    22.2%    11.5
Volume of New Orders for Exports         8.0%    71.5%    20.5%    12.4
Supplier Delivery Time                  11.1%    82.9%     6.0%     5.1
INDUSTRY BUSINESS ACTIVITY              26.1%    49.1%    24.9%    -1.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JUL96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.5%    33.5%    43.9%    21.4
Volume of Shipments                     23.8%    33.1%    43.0%    19.2
Volume of New Orders                    24.5%    40.6%    34.9%    10.4
Backlog of Orders                       28.4%    49.5%    22.1%    -6.3
Materials Inventories                   26.3%    60.9%    12.8%   -13.5
Finished Goods Inventories              30.6%    48.9%    20.6%   -10.0
Number of Employees                     20.1%    61.0%    18.9%    -1.1
Average Employee Workweek               24.1%    63.7%    12.1%   -12.0
Prices Received for Finished Goods       7.5%    69.1%    23.4%    15.9
Prices Paid for Raw Materials           18.1%    52.3%    29.6%    11.5
Capital Expenditures                    12.4%    52.1%    35.5%    23.2
Volume of New Orders for Exports         9.9%    62.4%    27.7%    17.8
Supplier Delivery Time                   4.4%    81.2%    14.2%    -9.8
INDUSTRY BUSINESS ACTIVITY              21.3%    38.1%    40.6%    19.3

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.7%    40.5%    38.7%    18.0
Volume of Shipments                     20.9%    38.2%    40.9%    20.0
Volume of New Orders                    24.3%    44.1%    31.5%     7.2
Backlog of Orders                       31.7%    45.2%    23.1%    -8.7
Materials Inventories                   25.5%    60.9%    13.6%   -11.8
Finished Goods Inventories              40.7%    40.7%    18.5%   -22.2
Number of Employees                     17.1%    64.0%    18.9%     1.8
Average Employee Workweek               13.5%    65.8%    20.7%     7.2
Prices Received for Finished Goods      12.7%    76.4%    10.9%    -1.8
Prices Paid for Raw Materials           11.8%    62.7%    25.5%    13.6
Volume of New Orders for Exports        10.8%    77.1%    12.0%     1.2
Supplier Delivery Time                  12.3%    78.3%     9.4%     2.8
INDUSTRY BUSINESS ACTIVITY              20.9%    51.8%    27.3%     6.4

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.7%    38.9%    45.4%    29.6
Volume of Shipments                     20.6%    35.5%    43.9%    23.4
Volume of New Orders                    19.3%    36.7%    44.0%    24.8
Backlog of Orders                       27.2%    54.4%    18.4%    -8.7
Materials Inventories                   17.8%    64.5%    17.8%     0.0
Finished Goods Inventories              18.7%    58.9%    22.4%     3.7
Number of Employees                     23.9%    58.7%    17.4%    -6.4
Average Employee Workweek               18.3%    71.6%    10.1%    -8.3
Prices Received for Finished Goods      20.2%    56.0%    23.9%     3.7
Prices Paid for Raw Materials           15.2%    43.8%    41.0%    25.7
Capital Expenditures                     9.7%    58.3%    32.0%    22.3
Volume of New Orders for Exports         7.1%    69.4%    23.5%    16.5
Supplier Delivery Time                   3.8%    83.7%    12.5%    -8.7
INDUSTRY BUSINESS ACTIVITY              19.8%    41.5%    38.7%    18.9

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              31.8%    23.6%    44.5%    12.7
Volume of Shipments                     36.4%    17.3%    46.4%    10.0
Volume of New Orders                    35.5%    24.5%    40.0%     4.6
Backlog of Orders                       33.0%    40.8%    26.2%    -6.8
Materials Inventories                   38.0%    45.4%    16.7%   -21.3
Finished Goods Inventories              38.7%    38.7%    22.6%   -16.0
Number of Employees                     41.8%    32.7%    25.5%   -16.4
Average Employee Workweek               23.6%    52.7%    23.6%     0.0
Prices Received for Finished Goods      26.6%    32.1%    41.3%    14.7
Prices Paid for Raw Materials           25.7%    22.9%    51.4%    25.7
Capital Expenditures                    27.6%    43.8%    28.6%     1.0
Volume of New Orders for Exports        13.1%    61.9%    25.0%    11.9
Supplier Delivery Time                  11.7%    69.9%    18.4%    -6.8
INDUSTRY BUSINESS ACTIVITY              40.2%    22.4%    37.4%    -2.8

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JUL96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.3%    39.4%    28.3%    -3.9
Volume of Shipments                     36.7%    34.4%    28.9%    -7.8
Volume of New Orders                    32.3%    39.4%    28.3%    -3.9
Backlog of Orders                       33.1%    43.8%    23.1%    -9.9
Materials Inventories                   26.4%    53.6%    20.0%    -6.4
Finished Goods Inventories              39.2%    42.5%    18.3%   -20.8
Number of Employees                     12.5%    70.3%    17.2%     4.7
Average Employee Workweek               18.8%    60.9%    20.3%     1.6
Prices Received for Finished Goods      15.7%    74.0%    10.2%    -5.5
Prices Paid for Raw Materials           11.8%    66.9%    21.3%     9.5
Volume of New Orders for Exports         9.9%    71.3%    18.8%     8.9
Supplier Delivery Time                  11.1%    82.9%     6.0%     5.1
INDUSTRY BUSINESS ACTIVITY              30.7%    48.8%    20.5%   -10.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JUL96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.6%    34.4%    40.0%    14.4
Volume of Shipments                     26.4%    35.2%    38.4%    12.0
Volume of New Orders                    27.2%    40.8%    32.0%     4.8
Backlog of Orders                       31.0%    46.6%    22.4%    -8.6
Materials Inventories                   29.2%    59.2%    11.7%   -17.5
Finished Goods Inventories              32.2%    49.2%    18.6%   -13.6
Number of Employees                     23.2%    60.8%    16.0%    -7.2
Average Employee Workweek               26.4%    63.2%    10.4%   -16.0
Prices Received for Finished Goods       8.9%    74.2%    16.9%     8.1
Prices Paid for Raw Materials           16.9%    56.5%    26.6%     9.7
Capital Expenditures                    12.7%    53.4%    33.9%    21.2
Volume of New Orders for Exports         9.9%    62.4%    27.7%    17.8
Supplier Delivery Time                   3.5%    82.6%    13.9%   -10.4
INDUSTRY BUSINESS ACTIVITY              25.0%    39.5%    35.5%    10.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JUL96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.3%    20.5%    47.2%    15.0
Volume of Shipments                     34.6%    14.2%    51.2%    16.5
Volume of New Orders                    36.5%    22.2%    41.3%     4.8
Backlog of Orders                       39.2%    31.7%    29.2%   -10.0
Materials Inventories                   35.2%    38.5%    26.2%    -9.0
Finished Goods Inventories              41.2%    34.5%    24.4%   -16.8
Number of Employees                     37.0%    35.4%    27.6%    -9.5
Average Employee Workweek               23.6%    48.0%    28.3%     4.7
Prices Received for Finished Goods      31.7%    30.2%    38.1%     6.4
Prices Paid for Raw Materials           29.6%    18.4%    52.0%    22.4
Capital Expenditures                    29.7%    40.7%    29.7%     0.0
Volume of New Orders for Exports        11.9%    59.4%    28.7%    16.8
Supplier Delivery Time                  16.4%    69.8%    13.8%     2.6
INDUSTRY BUSINESS ACTIVITY              32.0%    28.8%    39.2%     7.2