Southeastern Manufacturing Survey - January 1996 (December data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
DEC95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           33.2%      40.5%     26.4%       -6.8
Volume of Shipments                  36.4%      38.0%     25.6%      -10.8
Volume of New Orders                 37.2%      38.6%     24.3%      -12.9
Backlog of Orders                    35.2%      43.8%     21.0%      -14.2
Materials Inventories                24.8%      52.4%     22.8%       -2.0
Finished Goods Inventories           27.8%      41.8%     30.4%        2.6
Number of Employees                  23.7%      65.6%     10.8%      -12.9
Average Employee Workweek            19.8%      63.4%     16.8%       -3.0
Prices Received for Finished Goods   14.2%      77.0%      8.8%       -5.3
Prices Paid for Raw Materials        10.8%      63.2%     26.0%       15.1
Volume of New Orders for Exports     12.1%      73.8%     14.2%        2.1
Supplier Delivery Time                7.4%      87.0%      5.6%        1.9
INDUSTRY BUSINESS ACTIVITY           35.7%      48.5%     15.8%      -19.9

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
DEC95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           22.9%      32.7%     44.4%       21.4
Volume of Shipments                  23.3%      31.2%     45.5%       22.2
Volume of New Orders                 24.3%      34.8%     40.9%       16.6
Backlog of Orders                    22.9%      53.6%     23.4%        0.5
Materials Inventories                27.4%      54.8%     17.8%       -9.6
Finished Goods Inventories           34.2%      48.8%     17.0%      -17.2
Number of Employees                  24.5%      58.0%     17.5%       -7.0
Average Employee Workweek            17.9%      65.3%     16.9%       -1.0
Prices Received for Finished Goods   16.1%      57.2%     26.7%       10.5
Prices Paid for Raw Materials        18.9%      45.9%     35.2%       16.3
Capital Expenditures                 12.6%      57.6%     29.9%       17.3
Volume of New Orders for Exports      6.3%      69.9%     23.8%       17.6
Supplier Delivery Time                1.9%      88.4%      9.7%       -7.8
INDUSTRY BUSINESS ACTIVITY           21.6%      48.3%     30.1%        8.5

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
NOV95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           25.9%      41.5%     32.7%        6.8
Volume of Shipments                  28.3%      37.0%     34.7%        6.4
Volume of New Orders                 34.3%      38.1%     27.6%       -6.7
Backlog of Orders                    32.2%      47.9%     20.0%      -12.2
Materials Inventories                23.5%      60.1%     16.5%       -7.0
Finished Goods Inventories           27.2%      51.5%     21.3%       -5.9
Number of Employees                  23.2%      59.7%     17.1%       -6.2
Average Employee Workweek            17.5%      58.8%     23.7%        6.2
Prices Received for Finished Goods   17.1%      70.5%     12.4%       -4.7
Prices Paid for Raw Materials        13.6%      67.8%     18.6%        5.0
Volume of New Orders for Exports      8.6%      77.2%     14.2%        5.6
Supplier Delivery Time                9.0%      85.2%      5.7%        3.3
INDUSTRY BUSINESS ACTIVITY           31.6%      47.9%     20.5%      -11.1

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
NOV95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           18.4%      39.2%     42.4%       24.1
Volume of Shipments                  19.1%      39.5%     41.4%       22.3
Volume of New Orders                 20.0%      41.7%     38.4%       18.4
Backlog of Orders                    23.4%      55.6%     21.0%       -2.4
Materials Inventories                25.4%      62.4%     12.2%      -13.2
Finished Goods Inventories           27.9%      55.9%     16.2%      -11.6
Number of Employees                  26.4%      61.2%     12.4%      -14.0
Average Employee Workweek            18.5%      64.7%     16.7%       -1.8
Prices Received for Finished Goods   13.2%      62.0%     24.8%       11.5
Prices Paid for Raw Materials        10.6%      47.8%     41.6%       30.9
Capital Expenditures                 17.0%      52.7%     30.3%       13.4
Volume of New Orders for Exports      7.4%      73.9%     18.7%       11.2
Supplier Delivery Time                2.6%      88.8%      8.6%       -6.0
INDUSTRY BUSINESS ACTIVITY           16.0%      53.5%     30.5%       14.5

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
DEC95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           37.5%      41.1%     21.4%      -16.1
Volume of Shipments                  40.2%      37.5%     22.3%      -17.9
Volume of New Orders                 37.5%      38.4%     24.1%      -13.4
Backlog of Orders                    35.8%      46.8%     17.4%      -18.3
Materials Inventories                26.4%      53.6%     20.0%       -6.4
Finished Goods Inventories           28.2%      44.5%     27.3%       -0.9
Number of Employees                  18.6%      74.3%      7.1%      -11.5
Average Employee Workweek            19.6%      65.2%     15.2%       -4.5
Prices Received for Finished Goods   14.2%      77.0%      8.8%       -5.3
Prices Paid for Raw Materials        11.6%      67.9%     20.5%        8.9
Volume of New Orders for Exports     12.2%      73.2%     14.6%        2.4
Supplier Delivery Time                7.4%      87.0%      5.6%        1.9
INDUSTRY BUSINESS ACTIVITY           37.2%      49.6%     13.3%      -23.9

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
DEC95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           15.2%      27.7%     57.1%       42.0
Volume of Shipments                  16.1%      25.9%     58.0%       42.0
Volume of New Orders                 16.5%      30.3%     53.2%       36.7
Backlog of Orders                    17.9%      50.0%     32.1%       14.2
Materials Inventories                23.4%      57.0%     19.6%       -3.7
Finished Goods Inventories           30.6%      50.0%     19.4%      -11.1
Number of Employees                  19.5%      55.8%     24.8%        5.3
 Average Employee Workweek           13.4%      67.0%     19.6%        6.3
Prices Received for Finished Goods   15.0%      49.6%     35.4%       20.4
Prices Paid for Raw Materials        17.7%      42.5%     39.8%       22.1
Capital Expenditures                 12.3%      52.8%     34.9%       22.6
Volume of New Orders for Exports      7.0%      67.4%     25.6%       18.6
Supplier Delivery Time                1.9%      88.4%      9.7%       -7.8
INDUSTRY BUSINESS ACTIVITY           16.2%      37.8%     45.9%       29.7

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
DEC95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           37.5%      28.6%     33.9%       -3.6
Volume of Shipments                  41.1%      25.0%     33.9%       -7.1
Volume of New Orders                 41.1%      26.8%     32.1%       -8.9
Backlog of Orders                    38.9%      39.8%     21.3%      -17.6
Materials Inventories                26.2%      48.6%     25.2%       -0.9
Finished Goods Inventories           25.0%      38.9%     36.1%       11.1
Number of Employees                  38.1%      33.6%     28.3%       -9.7
Average Employee Workweek            29.2%      56.6%     14.2%      -15.0
Prices Received for Finished Goods   18.6%      31.9%     49.6%       31.0
Prices Paid for Raw Materials        10.6%      18.6%     70.8%       60.2
Capital Expenditures                 19.4%      47.6%     33.0%       13.6
Volume of New Orders for Exports     12.6%      58.6%     28.7%       16.1
Supplier Delivery Time                9.4%      71.7%     18.9%       -9.4
INDUSTRY BUSINESS ACTIVITY           43.2%      27.9%     28.8%      -14.4

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
NOV95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           27.9%      47.3%     24.8%       -3.1
Volume of Shipments                  31.8%      42.6%     25.6%       -6.2
Volume of New Orders                 36.7%      38.3%     25.0%      -11.7
Backlog of Orders                    35.2%      47.7%     17.2%      -18.0
Materials Inventories                24.2%      62.5%     13.3%      -10.9
Finished Goods Inventories           26.2%      53.2%     20.6%       -5.6
Number of Employees                  26.0%      59.1%     15.0%      -11.0
Average Employee Workweek            19.4%      62.0%     18.6%       -0.8
Prices Received for Finished Goods   17.1%      70.5%     12.4%       -4.7
Prices Paid for Raw Materials        12.3%      72.3%     15.4%        3.1
Volume of New Orders for Exports      8.9%      79.2%     11.9%        3.0
Supplier Delivery Time                9.0%      85.2%      5.7%        3.3
INDUSTRY BUSINESS ACTIVITY           33.3%      50.4%     16.3%      -17.1

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
NOV95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           10.9%      35.9%     53.1%       42.2
Volume of Shipments                  10.9%      35.9%     53.1%       42.2
Volume of New Orders                 11.8%      37.8%     50.4%       38.6
Backlog of Orders                    16.8%      55.2%     28.0%       11.2
Materials Inventories                23.0%      61.1%     15.9%       -7.1
Finished Goods Inventories           27.0%      55.7%     17.2%       -9.8
Number of Employees                  20.6%      58.7%     20.6%        0.0
Average Employee Workweek            12.5%      67.2%     20.3%        7.8
Prices Received for Finished Goods   12.5%      56.3%     31.3%       18.8
Prices Paid for Raw Materials        10.9%      46.5%     42.6%       31.8
Capital Expenditures                 17.2%      46.7%     36.1%       18.9
Volume of New Orders for Exports      6.7%      70.5%     22.9%       16.2
Supplier Delivery Time                2.6%      88.8%      8.6%       -6.0
INDUSTRY BUSINESS ACTIVITY            8.9%      46.0%     45.2%       36.3

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
NOV95

                                    Percent    Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease  No Change  Increase    Index
Production                           32.0%      26.6%     41.4%        9.4
Volume of Shipments                  32.8%      18.8%     48.4%       15.6
Volume of New Orders                 33.1%      26.8%     40.2%        7.1
Backlog of Orders                    36.8%      40.0%     23.2%      -13.6
Materials Inventories                26.0%      44.1%     29.9%        3.9
 Finished Goods Inventories          28.8%      35.2%     36.0%        7.2
Number of Employees                  37.1%      28.2%     34.7%       -2.4
Average Employee Workweek            24.0%      57.4%     18.6%       -5.4
Prices Received for Finished Goods   18.1%      29.1%     52.8%       34.7
Prices Paid for Raw Materials        10.9%      22.5%     66.7%       55.8
Capital Expenditures                 21.5%      39.7%     38.8%       17.4
Volume of New Orders for Exports     13.2%      64.2%     22.6%        9.4
Supplier Delivery Time               11.9%      77.1%     11.0%        0.9
INDUSTRY BUSINESS ACTIVITY           37.5%      22.7%     39.8%        2.3