Southeastern Manufacturing Survey - December 1998 (November data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
November 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.7     39.1     35.1      9.4
Volume of Shipments                     27.0     36.0     37.1     10.1
Volume of New Orders                    27.6     36.8     35.6      8.1
Backlog of Orders                       27.5     49.9     22.6     -4.9
Materials Inventories                   17.5     63.2     19.4      1.9
Finished Goods Inventories              23.0     53.5     23.6      0.6
Number of Employees                      8.7     74.9     16.4      7.8
Average Employee Workweek               13.6     64.6     21.8      8.3
Prices Received for Finished Goods*     24.1     71.1      4.8    -19.3
Prices Paid for Raw Materials*          23.2     67.1      9.8    -13.4
Volume of New Orders for Exports*       13.2     79.4      7.4     -5.9
Supplier Delivery Time*                  6.3     91.1      2.5      3.8
INDUSTRY BUSINESS ACTIVITY              32.8     40.9     26.3     -6.4

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
November 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.4     35.3     45.3     26.0
Volume of Shipments                     18.9     30.4     50.7     31.8
Volume of New Orders                    22.8     29.5     47.7     24.9
Backlog of Orders                       20.7     50.4     28.9      8.2
Materials Inventories                   20.1     61.3     18.6     -1.5
Finished Goods Inventories              27.4     50.8     21.8     -5.7
Number of Employees                     20.0     60.5     19.5     -0.6
Average Employee Workweek               23.3     61.3     15.4     -7.8
Prices Received for Finished Goods      18.7     54.8     26.6      7.9
Prices Paid for Raw Materials           14.3     59.5     26.2     11.9
Capital Expenditures                    17.2     55.6     27.1      9.9
Volume of New Orders for Exports*        7.4     69.1     23.5     16.2
Supplier Delivery Time*                  9.0     85.9      5.1      3.9
INDUSTRY BUSINESS ACTIVITY              27.2     24.0     48.9     21.7

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.1     39.8     32.1      4.0
Volume of Shipments                     30.8     33.5     35.8      5.0
Volume of New Orders                    30.4     37.0     32.6      2.2
Backlog of Orders                       29.9     46.9     23.2     -6.7
Materials Inventories                   20.8     66.8     12.4     -8.5
Finished Goods Inventories              26.4     51.9     21.7     -4.6
Number of Employees                     14.0     69.6     16.4      2.5
Average Employee Workweek               18.5     61.7     19.7      1.2
Prices Received for Finished Goods*     16.7     77.8      5.6    -11.1
Prices Paid for Raw Materials*          23.8     67.6      8.6    -15.2
Volume of New Orders for Exports*       22.2     67.9      9.9    -12.4
Supplier Delivery Time*                  9.9     87.1      3.0      6.9
INDUSTRY BUSINESS ACTIVITY              30.5     41.0     28.5     -2.0

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.2     40.0     43.8     27.7
Volume of Shipments                     20.8     32.5     46.8     26.0
Volume of New Orders                    21.3     36.0     42.7     21.4
Backlog of Orders                       22.5     53.2     24.3      1.8
Materials Inventories                   20.2     58.1     21.6      1.4
Finished Goods Inventories              29.8     45.2     25.0     -4.8
Number of Employees                     10.3     65.6     24.1     13.8
Average Employee Workweek               19.9     61.0     19.1     -0.8
Prices Received for Finished Goods      16.0     59.3     24.8      8.9
Prices Paid for Raw Materials           16.3     54.1     29.7     13.4
Capital Expenditures                    14.1     56.9     29.0     14.9
Volume of New Orders for Exports*       14.3     61.9     23.8      9.5
Supplier Delivery Time*                  4.0     85.0     11.0     -7.0
INDUSTRY BUSINESS ACTIVITY              25.0     37.9     37.0     12.0

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
November 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              29.8     41.7     28.6     -1.2
Volume of Shipments                     34.5     38.1     27.4     -7.1
Volume of New Orders                    32.1     35.7     32.1      0.0
Backlog of Orders                       29.6     51.9     18.5    -11.1
Materials Inventories                   19.5     63.4     17.1     -2.4
Finished Goods Inventories              18.8     55.0     26.3      7.5
Number of Employees                     10.8     74.7     14.5      3.6
Average Employee Workweek               15.5     65.5     19.0      3.6
Prices Received for Finished Goods      24.1     71.1      4.8    -19.3
Prices Paid for Raw Materials           23.2     67.1      9.8    -13.4
Volume of New Orders for Exports        13.2     79.4      7.4     -5.9
Supplier Delivery Time                   6.3     91.1      2.5      3.8
INDUSTRY BUSINESS ACTIVITY              36.1     44.6     19.3    -16.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
November 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              14.3     32.1     53.6     39.3
Volume of Shipments                     11.9     27.4     60.7     48.8
Volume of New Orders                    16.7     25.0     58.3     41.7
Backlog of Orders                       15.2     50.6     34.2     19.0
Materials Inventories                   18.3     59.8     22.0      3.7
Finished Goods Inventories              23.8     52.5     23.8      0.0
Number of Employees                     17.9     58.3     23.8      6.0
Average Employee Workweek               20.2     60.7     19.0     -1.2
Prices Received for Finished Goods      19.3     48.2     32.5     13.3
Prices Paid for Raw Materials           14.5     54.2     31.3     16.9
Capital Expenditures                    19.0     50.6     30.4     11.4
Volume of New Orders for Exports         7.4     69.1     23.5     16.2
Supplier Delivery Time                   9.0     85.9      5.1      3.9
INDUSTRY BUSINESS ACTIVITY              21.0     23.5     55.6     34.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
November 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              36.9     23.8     39.3      2.4
Volume of Shipments                     33.3     29.8     36.9      3.6
Volume of New Orders                    32.1     22.6     45.2     13.1
Backlog of Orders                       28.8     40.0     31.3      2.5
Materials Inventories                   25.3     50.6     24.1     -1.2
Finished Goods Inventories              25.0     47.5     27.5      2.5
Number of Employees                     29.8     39.3     31.0      1.2
Average Employee Workweek               20.2     53.6     26.2      6.0
Prices Received for Finished Goods      26.5     47.0     26.5      0.0
Prices Paid for Raw Materials           26.8     32.9     40.2     13.4
Capital Expenditures                    15.2     40.5     44.3     29.1
Volume of New Orders for Exports        17.2     68.8     14.1     -3.1
Supplier Delivery Time                  10.1     82.3      7.6      2.5
INDUSTRY BUSINESS ACTIVITY              38.6     19.3     42.2      3.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.4     42.2     29.4      0.9
Volume of Shipments                     33.9     33.9     32.1     -1.8
Volume of New Orders                    33.3     35.2     31.5     -1.9
Backlog of Orders                       33.7     46.5     19.8    -13.9
Materials Inventories                   23.3     66.0     10.7    -12.6
Finished Goods Inventories              24.5     53.9     21.6     -2.9
Number of Employees                     16.7     68.5     14.8     -1.9
Average Employee Workweek               21.3     61.1     17.6     -3.7
Prices Received for Finished Goods      16.7     77.8      5.6    -11.1
Prices Paid for Raw Materials           23.8     67.6      8.6    -15.2
Volume of New Orders for Exports        22.2     67.9      9.9    -12.4
Supplier Delivery Time                   9.9     87.1      3.0      6.9
INDUSTRY BUSINESS ACTIVITY              29.0     45.8     25.2     -3.7



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.8     42.2     45.0     32.1
Volume of Shipments                     17.4     38.5     44.0     26.6
Volume of New Orders                    18.7     39.3     42.1     23.4
Backlog of Orders                       20.6     52.0     27.5      6.9
Materials Inventories                   17.6     61.8     20.6      2.9
Finished Goods Inventories              27.5     49.0     23.5     -3.9
Number of Employees                     11.2     65.4     23.4     12.2
Average Employee Workweek               17.6     62.0     20.4      2.8
Prices Received for Finished Goods      16.7     56.5     26.9     10.2
Prices Paid for Raw Materials           17.0     50.0     33.0     16.0
Capital Expenditures                    14.0     56.0     30.0     16.0
Volume of New Orders for Exports        14.3     61.9     23.8      9.5
Supplier Delivery Time                   4.0     85.0     11.0     -7.0
INDUSTRY BUSINESS ACTIVITY              21.5     43.9     34.6     13.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              38.5     18.3     43.1      4.6
Volume of Shipments                     35.8     19.3     45.0      9.2
Volume of New Orders                    35.5     25.2     39.3      3.7
Backlog of Orders                       34.3     34.3     31.4     -2.9
Materials Inventories                   28.8     51.0     20.2     -8.7
Finished Goods Inventories              23.3     47.6     29.1      5.8
Number of Employees                     32.4     31.5     36.1      3.7
Average Employee Workweek               17.6     57.4     25.0      7.4
Prices Received for Finished Goods      30.6     38.0     31.5      0.9
Prices Paid for Raw Materials           32.1     35.8     32.1      0.0
Capital Expenditures                    15.5     48.5     36.1     20.6
Volume of New Orders for Exports        27.7     53.0     19.3     -8.4
Supplier Delivery Time                  12.0     80.0      8.0      4.0
INDUSTRY BUSINESS ACTIVITY              33.0     20.8     46.2     13.2