Southeastern Manufacturing Survey - February 1999 (January data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.3     49.2     32.5     14.2
Volume of Shipments                     20.0     43.5     36.4     16.4
Volume of New Orders                    21.7     41.0     37.3     15.7
Backlog of Orders                       21.5     56.4     22.1      0.5
Materials Inventories                   12.8     70.0     17.2      4.4
Finished Goods Inventories              16.0     60.8     23.2      7.2
Number of Employees                     16.4     65.0     18.6      2.2
Average Employee Workweek               19.0     65.7     15.3     -3.7
Prices Received for Finished Goods*     15.9     70.7     13.4     -2.4
Prices Paid for Raw Materials*          13.9     68.4     17.7      3.8
Volume of New Orders for Exports*       10.3     79.3     10.3      0.0
Supplier Delivery Time*                  2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              19.7     50.4     30.0     10.3

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.1     36.4     50.5     37.4
Volume of Shipments                     16.4     29.9     53.7     37.3
Volume of New Orders                    16.9     37.1     46.0     29.2
Backlog of Orders                       17.6     57.4     25.1      7.5
Materials Inventories                   17.1     64.7     18.2      1.1
Finished Goods Inventories              22.1     61.7     16.2     -6.0
Number of Employees                     18.4     51.1     30.6     12.2
Average Employee Workweek               19.5     59.4     21.2      1.7
Prices Received for Finished Goods      18.1     53.8     28.1     10.0
Prices Paid for Raw Materials           15.8     52.6     31.6     15.8
Capital Expenditures                    22.8     51.2     25.9      3.1
Volume of New Orders for Exports*       11.3     58.1     30.6     19.4
Supplier Delivery Time*                  0.0     95.9      4.1     -4.1
INDUSTRY BUSINESS ACTIVITY              16.2     37.7     46.2     30.0

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
December 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              26.8     38.0     35.2      8.4
Volume of Shipments                     23.9     35.8     40.3     16.4
Volume of New Orders                    28.6     38.1     33.3      4.7
Backlog of Orders                       27.6     44.4     28.0      0.3
Materials Inventories                   22.9     58.7     18.4     -4.5
Finished Goods Inventories              31.0     45.8     23.2     -7.7
Number of Employees                     16.8     66.2     17.0      0.2
Average Employee Workweek               17.9     62.0     20.1      2.2
Prices Received for Finished Goods*     19.1     74.2      6.7    -12.4
Prices Paid for Raw Materials*          16.7     71.1     12.2     -4.4
Volume of New Orders for Exports*       13.5     81.1      5.4     -8.1
Supplier Delivery Time*                  7.0     88.4      4.7      2.3
INDUSTRY BUSINESS ACTIVITY              27.2     40.6     32.2      5.0

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
December 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.9     33.2     53.0     39.1
Volume of Shipments                     15.3     31.6     53.0     37.7
Volume of New Orders                    15.1     31.4     53.5     38.4
Backlog of Orders                       17.0     49.4     33.6     16.6
Materials Inventories                   22.1     59.2     18.7     -3.4
Finished Goods Inventories              29.4     51.8     18.8    -10.6
Number of Employees                     18.7     56.8     24.5      5.9
Average Employee Workweek               18.4     58.6     23.0      4.6
Prices Received for Finished Goods      14.4     63.3     22.3      7.8
Prices Paid for Raw Materials           17.4     55.0     27.7     10.3
Capital Expenditures                    13.8     53.8     32.4     18.5
Volume of New Orders for Exports*        4.2     69.4     26.4     22.2
Supplier Delivery Time*                  7.0     87.2      5.8      1.2
INDUSTRY BUSINESS ACTIVITY              16.3     36.1     47.6     31.3

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.4     46.3     40.2     26.8
Volume of Shipments                     17.3     39.5     43.2     25.9
Volume of New Orders                    17.1     42.7     40.2     23.2
Backlog of Orders                       16.7     60.3     23.1      6.4
Materials Inventories                    9.9     71.6     18.5      8.6
Finished Goods Inventories              15.0     57.5     27.5     12.5
Number of Employees                     15.9     63.4     20.7      4.9
Average Employee Workweek               19.5     61.0     19.5      0.0
Prices Received for Finished Goods      15.9     70.7     13.4     -2.4
Prices Paid for Raw Materials           13.9     68.4     17.7      3.8
Volume of New Orders for Exports        10.3     79.3     10.3      0.0
Supplier Delivery Time                   2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              20.7     46.3     32.9     12.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               9.9     32.1     58.0     48.2
Volume of Shipments                     12.2     24.4     63.4     51.2
Volume of New Orders                    13.4     32.9     53.7     40.2
Backlog of Orders                       13.0     58.4     28.6     15.6
Materials Inventories                   13.8     65.0     21.3      7.5
Finished Goods Inventories              21.3     61.3     17.5     -3.8
Number of Employees                     15.9     48.8     35.4     19.5
Average Employee Workweek               17.3     56.8     25.9      8.6
Prices Received for Finished Goods      19.8     50.6     29.6      9.9
Prices Paid for Raw Materials           14.8     51.9     33.3     18.5
Capital Expenditures                    22.4     50.0     27.6      5.3
Volume of New Orders for Exports        11.3     58.1     30.6     19.4
Supplier Delivery Time                   0.0     95.9      4.1     -4.1
INDUSTRY BUSINESS ACTIVITY              12.2     34.1     53.7     41.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.2     22.2     50.6     23.5
Volume of Shipments                     34.1     18.3     47.6     13.4
Volume of New Orders                    26.8     20.7     52.4     25.6
Backlog of Orders                       29.5     38.5     32.1      2.6
Materials Inventories                   22.2     51.9     25.9      3.7
Finished Goods Inventories              25.0     43.8     31.3      6.3
Number of Employees                     25.6     34.1     40.2     14.6
Average Employee Workweek               14.6     57.3     28.0     13.4
Prices Received for Finished Goods      26.8     45.1     28.0      1.2
Prices Paid for Raw Materials           35.8     33.3     30.9     -4.9
Capital Expenditures                    18.4     53.9     27.6      9.2
Volume of New Orders for Exports        16.4     63.9     19.7      3.3
Supplier Delivery Time                   9.3     81.3      9.3      0.0
INDUSTRY BUSINESS ACTIVITY              28.0     22.0     50.0     22.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
December 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              41.8     33.0     25.3    -16.5
Volume of Shipments                     36.3     33.0     30.8     -5.5
Volume of New Orders                    35.2     38.5     26.4     -8.8
Backlog of Orders                       32.9     44.7     22.4    -10.6
Materials Inventories                   29.5     54.5     15.9    -13.6
Finished Goods Inventories              32.2     47.1     20.7    -11.5
Number of Employees                     16.5     73.6      9.9     -6.6
Average Employee Workweek               26.4     60.4     13.2    -13.2
Prices Received for Finished Goods      19.1     74.2      6.7    -12.4
Prices Paid for Raw Materials           16.7     71.1     12.2     -4.4
Volume of New Orders for Exports        13.5     81.1      5.4     -8.1
Supplier Delivery Time                   7.0     88.4      4.7      2.3
INDUSTRY BUSINESS ACTIVITY              35.6     41.1     23.3    -12.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
December 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               8.8     26.4     64.8     56.0
Volume of Shipments                      8.8     27.5     63.7     55.0
Volume of New Orders                     8.9     27.8     63.3     54.4
Backlog of Orders                       11.9     47.6     40.5     28.6
Materials Inventories                   19.3     56.8     23.9      4.6
Finished Goods Inventories              26.4     52.9     20.7     -5.8
Number of Employees                     14.4     56.7     28.9     14.4
Average Employee Workweek               13.2     58.2     28.6     15.4
Prices Received for Finished Goods      12.5     56.8     30.7     18.2
Prices Paid for Raw Materials           17.8     47.8     34.4     16.7
Capital Expenditures                    11.5     51.7     36.8     25.3
Volume of New Orders for Exports         4.2     69.4     26.4     22.2
Supplier Delivery Time                   7.0     87.2      5.8      1.2
INDUSTRY BUSINESS ACTIVITY              10.0     33.3     56.7     46.7



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
December 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              35.2     20.9     44.0      8.8
Volume of Shipments                     33.7     20.2     46.1     12.4
Volume of New Orders                    30.3     24.7     44.9     14.6
Backlog of Orders                       38.8     32.9     28.2    -10.6
Materials Inventories                   27.6     46.0     26.4     -1.2
Finished Goods Inventories              25.3     41.4     33.3      8.1
Number of Employees                     27.8     38.9     33.3      5.6
Average Employee Workweek               18.9     57.8     23.3      4.4
Prices Received for Finished Goods      34.8     44.9     20.2    -14.6
Prices Paid for Raw Materials           35.6     35.6     28.9     -6.7
Capital Expenditures                    12.9     45.9     41.2     28.2
Volume of New Orders for Exports        25.7     62.9     11.4    -14.3
Supplier Delivery Time                   9.3     79.1     11.6     -2.3
INDUSTRY BUSINESS ACTIVITY              35.6     21.1     43.3      7.8