Southeastern Manufacturing Survey - February 2000 (January data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JANUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              22.8    46.5    30.7    7.9
Volume of Shipments                     27.4    39.5    33.0    5.6
Volume of New Orders                    21.3    46.6    32.1    10.9
Backlog of Orders                       25.1    49.1    25.8    0.7
Materials Inventories                   15.8    61.8    22.4    6.6
Finished Goods Inventories              22.1    47.8    30.0    7.9
Number of Employees                     16.4    68.8    14.8    -1.7
Average Employee Workweek               9.8     69.7    20.5    10.6
Prices Received for Finished Goods      11.8    77.0    11.1    -0.7
Prices Paid for Raw Materials           8.0     67.1    24.9    16.9
Volume of New Orders for Exports*       5.8     88.4    5.8     0.0
Supplier Delivery Time*                 3.7     93.8    2.5     1.2
INDUSTRY BUSINESS ACTIVITY              20.5    49.2    30.3    9.8

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JANUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              13.5    37.8    48.7    35.2
Volume of Shipments                     13.1    31.2    55.7    42.5
Volume of New Orders                    11.2    34.6    54.3    43.1
Backlog of Orders                       22.5    50.3    27.1    4.6
Materials Inventories                   28.8    55.1    16.1    -12.7
Finished Goods Inventories*             26.9    47.4    25.6    -1.3
Number of Employees                     17.2    60.8    22.1    4.9
Average Employee Workweek               13.0    67.2    19.7    6.7
Prices Received for Finished Goods      10.5    44.7    44.7    34.2
Prices Paid for Raw Materials           11.6    36.4    52.0    40.3
Capital Expenditures*                   16.0    46.9    37.0    21.0
Volume of New Orders for Exports*       5.7     77.1    17.1    11.4
Supplier Delivery Time*                 4.9     85.2    9.9     -4.9
INDUSTRY BUSINESS ACTIVITY              18.5    30.6    51.0    32.5

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
DECEMBER 1999

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              16.7    38.8    44.5    27.9
Volume of Shipments                     19.7    35.4    45.0    25.3
Volume of New Orders                    19.9    47.6    32.4    12.5
Backlog of Orders                       19.5    55.9    24.5    5.0
Materials Inventories                   14.6    62.0    23.4    8.8
Finished Goods Inventories              24.9    44.9    30.2    5.3
Number of Employees                     14.1    69.9    16.0    1.8
Average Employee Workweek               11.4    68.8    19.8    8.4
Prices Received for Finished Goods      6.7     71.7    21.6    15.0
Prices Paid for Raw Materials           6.7     64.6    28.7    21.9
Volume of New Orders for Exports*       7.5     82.1    10.4    3.0
Supplier Delivery Time*                 9.1     89.6    1.3     7.8
INDUSTRY BUSINESS ACTIVITY              22.4    42.6    35.0    12.6

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
DECEMBER 1999

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              17.7    40.4    41.8    24.1
Volume of Shipments                     21.5    34.3    44.2    22.8
Volume of New Orders                    20.6    40.6    38.8    18.2
Backlog of Orders                       21.2    55.1    23.7    2.4
Materials Inventories                   23.9    63.6    12.5    -11.3
Finished Goods Inventories*             31.2    45.5    23.4    -7.8
Number of Employees                     15.2    69.5    15.3    0.0
Average Employee Workweek               18.4    68.6    13.0    -5.4
Prices Received for Finished Goods      18.0    44.2    37.8    19.8
Prices Paid for Raw Materials           9.3     51.8    38.9    29.6
Capital Expenditures*                   19.5    46.8    33.8    14.3
Volume of New Orders for Exports*       1.5     75.0    23.5    22.1
Supplier Delivery Time*                 5.3     88.2    6.6     -1.3
INDUSTRY BUSINESS ACTIVITY              23.6    35.1    41.3    17.7

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JANUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              18.8    44.7    36.5    17.6
Volume of Shipments                     25.9    36.5    37.6    11.8
Volume of New Orders                    16.5    48.2    35.3    18.8
Backlog of Orders                       21.0    53.1    25.9    4.9
Materials Inventories                   11.9    64.3    23.8    11.9
Finished Goods Inventories              20.7    45.1    34.1    13.4
Number of Employees                     16.7    66.7    16.7    0.0
Average Employee Workweek               11.8    64.7    23.5    11.8
Prices Received for Finished Goods      11.9    75.0    13.1    1.2
Prices Paid for Raw Materials           7.1     62.4    30.6    23.5
Volume of New Orders for Exports        5.8     88.4    5.8     0.0
Supplier Delivery Time                  3.7     93.8    2.5     1.2
INDUSTRY BUSINESS ACTIVITY              21.4    45.2    33.3    11.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JANUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              9.6     33.7    56.6    47.0
Volume of Shipments                     8.3     26.2    65.5    57.1
Volume of New Orders                    7.2     30.1    62.7    55.4
Backlog of Orders                       17.5    51.3    31.3    13.8
Materials Inventories                   25.6    53.7    20.7    -4.9
Finished Goods Inventories              26.9    47.4    25.6    -1.3
Number of Employees                     14.6    58.5    26.8    12.2
Average Employee Workweek               10.7    64.3    25.0    14.3
Prices Received for Finished Goods      12.0    42.2    45.8    33.7
Prices Paid for Raw Materials           10.7    35.7    53.6    42.9
Capital Expenditures                    16.0    46.9    37.0    21.0
Volume of New Orders for Exports        5.7     77.1    17.1    11.4
Supplier Delivery Time                  4.9     85.2    9.9     -4.9
INDUSTRY BUSINESS ACTIVITY              13.4    26.8    59.8    46.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JANUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              18.8    21.2    60.0    41.2
Volume of Shipments                     23.5    18.8    57.6    34.1
Volume of New Orders                    21.4    27.4    51.2    29.8
Backlog of Orders                       17.3    43.2    39.5    22.2
Materials Inventories                   14.5    49.4    36.1    21.7
Finished Goods Inventories              21.5    45.6    32.9    11.4
Number of Employees                     29.8    36.9    33.3    3.6
Average Employee Workweek               8.2     61.2    30.6    22.4
Prices Received for Finished Goods      26.2    33.3    40.5    14.3
Prices Paid for Raw Materials           15.3    30.6    54.1    38.8
Capital Expenditures                    23.2    42.7    34.1    11.0
Volume of New Orders for Exports        10.0    74.3    15.7    5.7
Supplier Delivery Time                  9.6     84.3    6.0     3.6
INDUSTRY BUSINESS ACTIVITY              25.9    19.8    54.3    28.4



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
DECEMBER 1999

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              33.3    33.3    33.3    0.0
Volume of Shipments                     33.8    31.2    35.1    1.3
Volume of New Orders                    28.2    47.4    24.4    -3.8
Backlog of Orders                       27.6    53.9    18.4    -9.2
Materials Inventories                   20.5    57.7    21.8    1.3
Finished Goods Inventories              24.7    46.8    28.6    3.9
Number of Employees                     15.4    78.2    6.4     -9.0
Average Employee Workweek               20.5    66.7    12.8    -7.7
Prices Received for Finished Goods      10.4    71.4    18.2    7.8
Prices Paid for Raw Materials           6.4     65.4    28.2    21.8
Volume of New Orders for Exports        7.5     82.1    10.4    3.0
Supplier Delivery Time                  9.1     89.6    1.3     7.8
INDUSTRY BUSINESS ACTIVITY              34.6    38.5    26.9    -7.7



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
DECEMBER 1999

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              11.5    35.9    52.6    41.0
Volume of Shipments                     14.3    29.9    55.8    41.6
Volume of New Orders                    14.1    35.9    50.0    35.9
Backlog of Orders                       15.8    52.6    31.6    15.8
Materials Inventories                   22.1    59.7    18.2    -3.9
Finished Goods Inventories              31.2    45.5    23.4    -7.8
Number of Employees                     10.4    71.4    18.2    7.8
Average Employee Workweek               12.8    67.9    19.2    6.4
Prices Received for Finished Goods      16.9    37.7    45.5    28.6
Prices Paid for Raw Materials           10.4    45.5    44.2    33.8
Capital Expenditures                    19.5    46.8    33.8    14.3
Volume of New Orders for Exports        1.5     75.0    23.5    22.1
Supplier Delivery Time                  5.3     88.2    6.6     -1.3
INDUSTRY BUSINESS ACTIVITY              19.2    30.1    50.7    31.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
DECEMBER 1999

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              23.1    29.5    47.4    24.4
Volume of Shipments                     23.1    25.6    51.3    28.2
Volume of New Orders                    23.1    33.3    43.6    20.5
Backlog of Orders                       19.7    52.6    27.6    7.9
Materials Inventories                   21.8    44.9    33.3    11.5
Finished Goods Inventories              27.6    38.2    34.2    6.6
Number of Employees                     28.2    46.2    25.6    -2.6
Average Employee Workweek               15.4    66.7    17.9    2.6
Prices Received for Finished Goods      22.1    33.8    44.2    22.1
Prices Paid for Raw Materials           16.7    32.1    51.3    34.6
Capital Expenditures                    31.2    46.8    22.1    -9.1
Volume of New Orders for Exports        8.8     73.5    17.6    8.8
Supplier Delivery Time                  11.8    84.2    3.9     7.9
INDUSTRY BUSINESS ACTIVITY              27.6    26.3    46.1    18.4