Southeastern Manufacturing Survey - July 1996 (June data)

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                              24.0%    42.8%    33.2%     9.2
Volume of Shipments                     29.1%    39.2%    31.7%     2.5
Volume of New Orders                    29.3%    41.7%    29.0%    -0.2
Backlog of Orders                       30.6%    47.2%    22.2%    -8.4
Materials Inventories                   23.7%    59.3%    17.1%    -6.6
Finished Goods Inventories              34.6%    46.2%    19.2%   -15.4
Number of Employees                      9.9%    71.2%    18.9%     9.1
Average Employee Workweek               14.6%    61.9%    23.5%     8.9
Prices Received for Finished Goods      14.2%    74.3%    11.5%    -2.7
Prices Paid for Raw Materials           10.4%    65.7%    24.0%    13.6
Volume of New Orders for Exports         8.2%    69.9%    21.9%    13.6
Supplier Delivery Time                   9.6%    84.6%     5.8%     3.8
INDUSTRY BUSINESS ACTIVITY              25.5%    51.5%    23.0%    -2.4

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                              22.2%    36.1%    41.8%    19.6
Volume of Shipments                     23.6%    35.8%    40.6%    17.1
Volume of New Orders                    24.3%    41.2%    34.4%    10.1
Backlog of Orders                       28.8%    51.0%    20.3%    -8.5
Materials Inventories                   26.4%    61.2%    12.4%   -14.0
Finished Goods Inventories              31.7%    51.2%    17.1%   -14.6
Number of Employees                     22.1%    61.4%    16.4%    -5.7
Average Employee Workweek               23.9%    65.4%    10.7%   -13.1
Prices Received for Finished Goods       8.6%    67.7%    23.7%    15.2
Prices Paid for Raw Materials           19.4%    52.2%    28.4%     9.1
Capital Expenditures                    12.1%    53.0%    35.0%    22.9
Volume of New Orders for Exports        10.0%    63.3%    26.7%    16.7
Supplier Delivery Time                   3.8%    83.9%    12.0%    -8.2
INDUSTRY BUSINESS ACTIVITY              18.1%    41.3%    40.6%    22.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JUN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.6%    37.5%    29.9%    -2.7
Volume of Shipments                     35.9%    34.0%    30.1%    -5.7
Volume of New Orders                    27.9%    35.1%    36.9%     9.0
Backlog of Orders                       29.7%    42.3%    28.0%    -1.7
Materials Inventories                   19.0%    58.8%    22.2%     3.2
Finished Goods Inventories              28.6%    47.2%    24.2%    -4.4
Number of Employees                     15.3%    64.4%    20.2%     4.9
Average Employee Workweek               16.1%    62.1%    21.8%     5.6
Prices Received for Finished Goods      12.5%    80.4%     7.1%    -5.4
Prices Paid for Raw Materials           10.9%    68.2%    20.9%     9.9
Volume of New Orders for Exports        12.7%    79.1%     8.3%    -4.4
Supplier Delivery Time                   9.4%    85.8%     4.7%     4.7
INDUSTRY BUSINESS ACTIVITY              22.6%    45.0%    32.3%     9.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JUN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.5%    25.4%    54.1%    33.7
Volume of Shipments                     21.8%    27.2%    51.0%    29.2
Volume of New Orders                    20.3%    31.5%    48.2%    27.9
Backlog of Orders                       20.0%    46.8%    33.2%    13.1
Materials Inventories                   23.5%    54.4%    22.1%    -1.4
Finished Goods Inventories              26.2%    37.9%    35.9%     9.7
Number of Employees                     15.6%    59.6%    24.8%     9.1
Average Employee Workweek               20.0%    59.2%    20.7%     0.7
Prices Received for Finished Goods       6.4%    66.8%    26.8%    20.4
Prices Paid for Raw Materials           15.5%    54.9%    29.5%    14.0
Capital Expenditures                    10.0%    58.5%    31.5%    21.4
Volume of New Orders for Exports         5.3%    67.0%    27.7%    22.3
Supplier Delivery Time                   6.4%    86.2%     6.3%     0.1
INDUSTRY BUSINESS ACTIVITY              21.1%    36.7%    42.1%    21.0

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                              31.0%    40.7%    28.3%    -2.7
Volume of Shipments                     36.8%    36.0%    27.2%    -9.7
Volume of New Orders                    31.9%    42.5%    25.7%    -6.2
Backlog of Orders                       33.6%    45.8%    20.6%   -13.1
Materials Inventories                   27.9%    55.0%    17.1%   -10.8
Finished Goods Inventories              38.3%    43.0%    18.7%   -19.6
Number of Employees                     12.3%    71.1%    16.7%     4.4
Average Employee Workweek               17.5%    62.3%    20.2%     2.6
Prices Received for Finished Goods      14.2%    74.3%    11.5%    -2.7
Prices Paid for Raw Materials           11.5%    65.5%    23.0%    11.5
Volume of New Orders for Exports        10.1%    69.7%    20.2%    10.1
Supplier Delivery Time                   9.6%    84.6%     5.8%     3.9
INDUSTRY BUSINESS ACTIVITY              30.1%    51.3%    18.6%   -11.5

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                              25.2%    36.9%    37.8%    12.6
Volume of Shipments                     26.1%    37.8%    36.0%     9.9
Volume of New Orders                    27.0%    41.4%    31.5%     4.5
Backlog of Orders                       31.4%    48.0%    20.6%   -10.8
Materials Inventories                   29.2%    59.4%    11.3%   -17.9
Finished Goods Inventories              33.3%    51.4%    15.2%   -18.1
Number of Employees                     25.2%    61.3%    13.5%   -11.7
Average Employee Workweek               26.1%    64.9%     9.0%   -17.1
Prices Received for Finished Goods      10.0%    72.7%    17.3%     7.3
Prices Paid for Raw Materials           18.2%    56.4%    25.5%     7.3
Capital Expenditures                    12.4%    54.3%    33.3%    21.0
Volume of New Orders for Exports        10.0%    63.3%    26.7%    16.7
Supplier Delivery Time                   2.9%    85.3%    11.8%    -8.8
INDUSTRY BUSINESS ACTIVITY              21.8%    42.7%    35.5%    13.6

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                              31.9%    20.4%    47.8%    15.9
Volume of Shipments                     35.4%    14.2%    50.4%    15.0
Volume of New Orders                    34.8%    24.1%    41.1%     6.3
Backlog of Orders                       38.7%    31.1%    30.2%    -8.5
Materials Inventories                   34.3%    40.7%    25.0%    -9.3
Finished Goods Inventories              41.5%    34.0%    24.5%   -17.0
Number of Employees                     35.4%    36.3%    28.3%    -7.1
Average Employee Workweek               21.2%    49.6%    29.2%     8.0
Prices Received for Finished Goods      31.3%    33.0%    35.7%     4.5
Prices Paid for Raw Materials           28.6%    19.6%    51.8%    23.2
Capital Expenditures                    30.2%    40.6%    29.2%    -0.9
Volume of New Orders for Exports        13.3%    56.7%    30.0%    16.7
Supplier Delivery Time                  15.5%    71.8%    12.6%     2.9
INDUSTRY BUSINESS ACTIVITY              30.6%    29.7%    39.6%     9.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JUN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              31.0%    38.9%    30.1%    -0.9
Volume of Shipments                     33.6%    32.7%    33.6%     0.0
Volume of New Orders                    29.2%    32.7%    38.1%     8.9
Backlog of Orders                       29.9%    42.1%    28.0%    -1.9
Materials Inventories                   21.6%    56.8%    21.6%     0.0
Finished Goods Inventories              33.3%    44.4%    22.2%   -11.1
Number of Employees                     13.5%    65.8%    20.7%     7.2
Average Employee Workweek               13.6%    60.9%    25.5%    11.8
Prices Received for Finished Goods      12.5%    80.4%     7.1%    -5.4
Prices Paid for Raw Materials           10.7%    67.9%    21.4%    10.7
Volume of New Orders for Exports        13.0%    76.1%    10.9%    -2.2
Supplier Delivery Time                   9.4%    85.8%     4.7%     4.7
INDUSTRY BUSINESS ACTIVITY              24.5%    45.5%    30.0%     5.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JUN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.2%    28.8%    45.9%    20.7
Volume of Shipments                     27.0%    30.6%    42.3%    15.3
Volume of New Orders                    26.1%    36.0%    37.8%    11.7
Backlog of Orders                       24.8%    49.5%    25.7%     1.0
Materials Inventories                   26.4%    54.5%    19.1%    -7.3
Finished Goods Inventories              27.1%    38.3%    34.6%     7.5
Number of Employees                     20.7%    59.5%    19.8%    -0.9
Average Employee Workweek               23.9%    60.6%    15.6%    -8.3
Prices Received for Finished Goods       8.1%    71.2%    20.7%    12.6
Prices Paid for Raw Materials           15.3%    55.9%    28.8%    13.5
Capital Expenditures                    12.3%    58.5%    29.2%    17.0
Volume of New Orders for Exports         5.3%    67.0%    27.7%    22.3
Supplier Delivery Time                   6.5%    86.0%     7.5%    -0.9
INDUSTRY BUSINESS ACTIVITY              26.9%    38.5%    34.6%     7.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JUN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              35.1%    22.5%    42.3%     7.2
Volume of Shipments                     37.8%    18.0%    44.1%     6.3
Volume of New Orders                    32.7%    27.3%    40.0%     7.3
Backlog of Orders                       34.3%    36.2%    29.5%    -4.8
Materials Inventories                   31.8%    39.1%    29.1%    -2.7
Finished Goods Inventories              34.6%    35.5%    29.9%    -4.7
Number of Employees                     40.9%    30.9%    28.2%   -12.7
Average Employee Workweek               20.9%    56.4%    22.7%     1.8
Prices Received for Finished Goods      27.9%    31.5%    40.5%    12.6
Prices Paid for Raw Materials           23.4%    21.6%    55.0%    31.5
Capital Expenditures                    27.1%    40.2%    32.7%     5.6
Volume of New Orders for Exports        12.8%    60.6%    26.6%    13.8
Supplier Delivery Time                  15.1%    71.7%    13.2%     1.9
INDUSTRY BUSINESS ACTIVITY              34.3%    25.9%    39.8%     5.6