Southeastern Manufacturing Survey - July 1997 (June data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JUNE97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.1     44.6     35.3     15.2
Volume of Shipments                     22.8     43.3     33.9     11.1
Volume of New Orders                    20.1     51.3     28.6      8.5
Backlog of Orders                       24.1     54.1     21.8     -2.3
Materials Inventories                   19.3     60.2     20.6      1.3
Finished Goods Inventories              24.0     52.5     23.5     -0.5
Number of Employees                     14.2     64.6     21.2      7.1
Average Employee Workweek               15.2     74.9      9.9     -5.2
Prices Received for Finished Goods*     14.4     70.1     15.5      1.0
Prices Paid for Raw Materials           12.2     66.9     20.9      8.7
Volume of New Orders for Exports*        5.3     74.7     20.0     14.7
Supplier Delivery Time*                  4.4     92.3      3.3      1.1
INDUSTRY BUSINESS ACTIVITY              16.2     50.1     33.7     17.5

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JUNE97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               9.4     40.6     50.0     40.6
Volume of Shipments                     14.9     30.9     54.3     39.4
Volume of New Orders                    10.8     39.4     49.8     38.9
Backlog of Orders                       18.6     51.5     29.9     11.2
Materials Inventories                   23.5     55.3     21.1     -2.4
Finished Goods Inventories              29.6     48.6     21.8     -7.8
Number of Employees                     16.3     57.5     26.1      9.8
Average Employee Workweek               20.7     62.9     16.4     -4.3
Prices Received for Finished Goods       6.2     57.1     36.8     30.6
Prices Paid for Raw Materials            9.7     49.8     40.5     30.9
Capital Expenditures                    12.2     54.2     33.7     21.5
Volume of New Orders for Exports*        2.5     67.5     30.0     27.5
Supplier Delivery Time*                  4.5     89.9      5.6     -1.1
INDUSTRY BUSINESS ACTIVITY               5.6     41.2     53.2     47.7

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
MAY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.5     44.4     34.1     12.7
Volume of Shipments                     21.0     42.5     36.5     15.4
Volume of New Orders                    21.9     47.5     30.6      8.8
Backlog of Orders                       19.5     57.5     23.0      3.5
Materials Inventories                   19.7     64.1     16.2     -3.5
Finished Goods Inventories              26.6     48.2     25.2     -1.4
Number of Employees                     16.8     63.3     19.9      3.1
Average Employee Workweek               13.0     71.4     15.6      2.6
Prices Received for Finished Goods*     12.4     79.6      8.0     -4.4
Prices Paid for Raw Materials           10.6     67.8     21.6     11.0
Volume of New Orders for Exports*        9.9     75.8     14.3      4.4
Supplier Delivery Time*                  6.7     89.5      3.8      2.9
INDUSTRY BUSINESS ACTIVITY              17.4     48.0     34.6     17.3

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
MAY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              10.8     40.4     48.8     38.0
Volume of Shipments                      9.3     35.9     54.8     45.5
Volume of New Orders                     6.3     41.9     51.9     45.6
Backlog of Orders                       12.4     54.6     33.0     20.5
Materials Inventories                   22.4     58.8     18.8     -3.5
Finished Goods Inventories              27.9     52.4     19.7     -8.2
Number of Employees                     12.6     58.1     29.3     16.7
Average Employee Workweek               17.5     67.1     15.4     -2.1
Prices Received for Finished Goods       9.6     59.4     31.0     21.3
Prices Paid for Raw Materials           10.0     51.6     38.4     28.3
Capital Expenditures                    16.2     53.4     30.4     14.3
Volume of New Orders for Exports*        5.3     65.3     29.5     24.2
Supplier Delivery Time*                  6.7     84.6      8.7     -1.9
INDUSTRY BUSINESS ACTIVITY              10.9     41.0     48.1     37.3

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JUNE97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.4     45.9     34.7     15.3
Volume of Shipments                     21.9     41.7     36.5     14.6
Volume of New Orders                    22.7     47.4     29.9      7.2
Backlog of Orders                       24.5     51.1     24.5      0.0
Materials Inventories                   20.0     58.9     21.1      1.1
Finished Goods Inventories              28.9     51.1     20.0     -8.9
Number of Employees                     11.2     64.3     24.5     13.3
Average Employee Workweek               13.3     72.4     14.3      1.0
Prices Received for Finished Goods      14.4     70.1     15.5      1.0
Prices Paid for Raw Materials           12.2     67.3     20.4      8.2
Volume of New Orders for Exports         5.3     74.7     20.0     14.7
Supplier Delivery Time                   4.4     92.3      3.3      1.1
INDUSTRY BUSINESS ACTIVITY              17.7     49.0     33.3     15.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JUNE97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.5     42.3     41.2     24.7
Volume of Shipments                     22.9     32.3     44.8     21.9
Volume of New Orders                    17.9     42.1     40.0     22.1
Backlog of Orders                       22.6     54.8     22.6      0.0
Materials Inventories                   28.0     52.7     19.4     -8.6
Finished Goods Inventories              33.3     44.4     22.2    -11.1
Number of Employees                     22.7     57.7     19.6     -3.1
Average Employee Workweek               27.8     60.8     11.3    -16.5
Prices Received for Finished Goods       6.3     64.6     29.2     22.9
Prices Paid for Raw Materials            9.3     52.6     38.1     28.9
Capital Expenditures                    12.9     55.9     31.2     18.3
Volume of New Orders for Exports         2.5     67.5     30.0     27.5
Supplier Delivery Time                   4.5     89.9      5.6     -1.1
INDUSTRY BUSINESS ACTIVITY              15.1     41.9     43.0     28.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JUNE97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.6     29.9     48.5     26.8
Volume of Shipments                     27.1     27.1     45.8     18.8
Volume of New Orders                    24.7     29.9     45.4     20.6
Backlog of Orders                       20.2     41.5     38.3     18.1
Materials Inventories                   22.3     38.3     39.4     17.0
Finished Goods Inventories              25.3     40.7     34.1      8.8
Number of Employees                     17.3     49.0     33.7     16.3
Average Employee Workweek               13.3     63.3     23.5     10.2
Prices Received for Finished Goods      20.8     29.2     50.0     29.2
Prices Paid for Raw Materials           21.4     24.5     54.1     32.7
Capital Expenditures                    19.6     44.6     35.9     16.3
Volume of New Orders for Exports         7.5     65.0     27.5     20.0
Supplier Delivery Time                   7.8     80.0     12.2     -4.4
INDUSTRY BUSINESS ACTIVITY              16.0     26.6     57.4     41.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
MAY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.5     47.8     32.7     13.3
Volume of Shipments                     19.5     45.1     35.4     15.9
Volume of New Orders                    23.9     46.0     30.1      6.2
Backlog of Orders                       20.2     60.6     19.3     -0.9
Materials Inventories                   20.5     61.6     17.9     -2.7
Finished Goods Inventories              28.7     49.1     22.2     -6.5
Number of Employees                     16.8     63.7     19.5      2.7
Average Employee Workweek               13.3     72.6     14.2      0.9
Prices Received for Finished Goods      12.4     79.6      8.0     -4.4
Prices Paid for Raw Materials           10.7     67.9     21.4     10.7
Volume of New Orders for Exports         9.9     75.8     14.3      4.4
Supplier Delivery Time                   6.7     89.5      3.8      2.9
INDUSTRY BUSINESS ACTIVITY              16.8     47.8     35.4     18.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
MAY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.8     39.8     43.4     26.6
Volume of Shipments                     16.8     35.4     47.8     31.0
Volume of New Orders                    14.2     41.6     44.2     30.1
Backlog of Orders                       18.3     54.1     27.5      9.2
Materials Inventories                   25.2     57.9     16.8     -8.4
Finished Goods Inventories              31.8     48.6     19.6    -12.2
Number of Employees                     15.9     58.4     25.7      9.7
Average Employee Workweek               19.8     69.4     10.8     -9.0
Prices Received for Finished Goods       9.9     65.8     24.3     14.4
Prices Paid for Raw Materials            8.8     55.8     35.4     26.6
Capital Expenditures                    17.4     55.0     27.5     10.1
Volume of New Orders for Exports         5.3     65.3     29.5     24.2
Supplier Delivery Time                   6.7     84.6      8.7     -1.9
INDUSTRY BUSINESS ACTIVITY              17.9     42.0     40.2     22.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
MAY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.7     27.7     44.6     17.0
Volume of Shipments                     27.4     30.1     42.5     15.0
Volume of New Orders                    24.8     31.9     43.4     18.6
Backlog of Orders                       28.4     43.1     28.4      0.0
Materials Inventories                   22.5     48.6     28.8      6.3
Finished Goods Inventories              30.6     46.3     23.1     -7.4
Number of Employees                     29.5     39.3     31.3      1.8
Average Employee Workweek               22.1     58.4     19.5     -2.7
Prices Received for Finished Goods      23.9     37.2     38.9     15.0
Prices Paid for Raw Materials           17.9     33.9     48.2     30.4
Capital Expenditures                    27.8     39.8     32.4      4.6
Volume of New Orders for Exports        10.5     65.3     24.2     13.7
Supplier Delivery Time                  11.5     76.9     11.5      0.0
INDUSTRY BUSINESS ACTIVITY              23.9     28.3     47.8     23.9