Southeastern Manufacturing Survey - July 1998 (June data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
June 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              23.7     37.9     38.4     14.7
Volume of Shipments                     22.2     39.7     38.1     15.9
Volume of New Orders                    17.6     50.0     32.4     14.9
Backlog of Orders                       19.9     57.9     22.2      2.3
Materials Inventories                   18.6     58.6     22.8      4.2
Finished Goods Inventories              28.8     49.6     21.6     -7.3
Number of Employees                     19.3     60.2     20.5      1.2
Average Employee Workweek               16.8     61.5     21.7      4.9
Prices Received for Finished Goods*     16.1     72.0     11.8     -4.3
Prices Paid for Raw Materials*          19.6     72.8      7.6    -12.0
Volume of New Orders for Exports*       11.1     72.2     16.7      5.6
Supplier Delivery Time*                  9.8     86.6      3.7      6.1
INDUSTRY BUSINESS ACTIVITY              14.3     53.9     31.9     17.6

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
June 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              15.5     33.1     51.4     35.9
Volume of Shipments                     19.3     32.6     48.1     28.8
Volume of New Orders                    22.6     32.1     45.3     22.7
Backlog of Orders                       19.5     47.6     32.8     13.3
Materials Inventories                   26.5     58.2     15.3    -11.2
Finished Goods Inventories              22.7     55.7     21.6     -1.1
Number of Employees                     10.7     60.7     28.6     17.8
Average Employee Workweek               18.3     60.7     21.0      2.7
Prices Received for Finished Goods      15.0     61.2     23.9      8.9
Prices Paid for Raw Materials           14.4     60.8     24.8     10.4
Capital Expenditures                    14.2     47.2     38.6     24.4
Volume of New Orders for Exports*       13.5     64.9     21.6      8.1
Supplier Delivery Time*                  4.9     85.2      9.9     -4.9
INDUSTRY BUSINESS ACTIVITY              22.6     32.8     44.7     22.1

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
May 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              19.6     36.4     44.1     24.5
Volume of Shipments                     24.2     31.4     44.4     20.2
Volume of New Orders                    20.4     44.0     35.7     15.3
Backlog of Orders                       23.1     51.6     25.3      2.3
Materials Inventories                   14.7     56.7     28.7     14.0
Finished Goods Inventories              14.5     48.4     37.1     22.6
Number of Employees                     10.3     67.4     22.3     12.0
Average Employee Workweek               13.7     62.7     23.6      9.9
Prices Received for Finished Goods*     13.1     73.0     13.9      0.8
Prices Paid for Raw Materials*          15.4     69.9     14.6     -0.8
Volume of New Orders for Exports*       10.2     72.4     17.3      7.1
Supplier Delivery Time*                  7.5     86.7      5.8      1.7
INDUSTRY BUSINESS ACTIVITY              14.4     53.9     31.8     17.4

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
May 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              16.3     34.8     48.9     32.6
Volume of Shipments                     16.7     34.0     49.3     32.6
Volume of New Orders                    15.2     40.2     44.6     29.3
Backlog of Orders                       15.2     57.2     27.6     12.4
Materials Inventories                   25.8     57.0     17.2     -8.6
Finished Goods Inventories              24.3     56.0     19.7     -4.6
Number of Employees                     15.3     58.2     26.5     11.3
Average Employee Workweek               17.0     64.1     18.9      1.9
Prices Received for Finished Goods      12.1     61.6     26.3     14.2
Prices Paid for Raw Materials           11.7     60.0     28.3     16.6
Capital Expenditures                    13.0     51.6     35.4     22.5
Volume of New Orders for Exports*        7.8     70.6     21.6     13.7
Supplier Delivery Time*                  5.0     86.6      8.4     -3.4
INDUSTRY BUSINESS ACTIVITY              16.9     36.9     46.3     29.4

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
June 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              24.5     38.3     37.2     12.8
Volume of Shipments                     22.6     38.7     38.7     16.1
Volume of New Orders                    18.3     48.4     33.3     15.1
Backlog of Orders                       19.3     55.7     25.0      5.7
Materials Inventories                   18.7     58.2     23.1      4.4
Finished Goods Inventories              33.3     48.9     17.8    -15.6
Number of Employees                     17.0     58.5     24.5      7.5
Average Employee Workweek               15.1     60.2     24.7      9.7
Prices Received for Finished Goods      16.1     72.0     11.8     -4.3
Prices Paid for Raw Materials           19.6     72.8      7.6    -12.0
Volume of New Orders for Exports        11.1     72.2     16.7      5.6
Supplier Delivery Time                   9.8     86.6      3.7      6.1
INDUSTRY BUSINESS ACTIVITY              14.9     52.1     33.0     18.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
June 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              21.3     36.2     42.6     21.3
Volume of Shipments                     27.7     33.0     39.4     11.7
Volume of New Orders                    30.1     32.3     37.6      7.5
Backlog of Orders                       23.9     47.7     28.4      4.6
Materials Inventories                   31.1     55.6     13.3    -17.8
Finished Goods Inventories              23.3     54.4     22.2     -1.1
Number of Employees                     15.1     61.3     23.7      8.6
Average Employee Workweek               25.8     55.9     18.3     -7.5
Prices Received for Finished Goods      14.0     67.7     18.3      4.3
Prices Paid for Raw Materials           14.0     65.6     20.4      6.5
Capital Expenditures                    14.9     49.4     35.6     20.7
Volume of New Orders for Exports        13.5     64.9     21.6      8.1
Supplier Delivery Time                   4.9     85.2      9.9     -4.9
INDUSTRY BUSINESS ACTIVITY              31.9     31.9     36.2      4.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
June 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              26.6     26.6     46.8     20.2
Volume of Shipments                     24.5     33.0     42.6     18.1
Volume of New Orders                    22.6     33.3     44.1     21.5
Backlog of Orders                       14.9     48.3     36.8     21.8
Materials Inventories                   16.5     53.8     29.7     13.2
Finished Goods Inventories              25.6     52.2     22.2     -3.3
Number of Employees                     24.5     40.4     35.1     10.6
Average Employee Workweek               14.9     53.2     31.9     17.0
Prices Received for Finished Goods      19.4     49.5     31.2     11.8
Prices Paid for Raw Materials           22.8     41.3     35.9     13.0
Capital Expenditures                    19.8     43.0     37.2     17.4
Volume of New Orders for Exports        13.5     68.9     17.6      4.1
Supplier Delivery Time                  14.5     73.5     12.0      2.4
INDUSTRY BUSINESS ACTIVITY              16.0     37.2     46.8     30.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
May 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              16.0     40.0     44.0     28.0
Volume of Shipments                     21.1     35.0     43.9     22.8
Volume of New Orders                    21.8     43.5     34.7     12.9
Backlog of Orders                       22.7     55.5     21.8     -0.8
Materials Inventories                   13.9     56.6     29.5     15.6
Finished Goods Inventories              16.5     50.4     33.1     16.5
Number of Employees                     10.4     67.2     22.4     12.0
Average Employee Workweek               12.0     65.6     22.4     10.4
Prices Received for Finished Goods      13.1     73.0     13.9      0.8
Prices Paid for Raw Materials           15.4     69.9     14.6     -0.8
Volume of New Orders for Exports        10.2     72.4     17.3      7.1
Supplier Delivery Time                   7.5     86.7      5.8      1.7
INDUSTRY BUSINESS ACTIVITY              12.1     54.0     33.9     21.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
May 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              21.6     35.2     43.2     21.6
Volume of Shipments                     23.6     34.1     42.3     18.7
Volume of New Orders                    22.0     40.7     37.4     15.5
Backlog of Orders                       19.5     58.5     22.0      2.5
Materials Inventories                   28.1     57.0     14.9    -13.2
Finished Goods Inventories              27.5     53.3     19.2     -8.3
Number of Employees                     17.6     60.0     22.4      4.8
Average Employee Workweek               20.2     65.3     14.5     -5.7
Prices Received for Finished Goods      11.4     67.5     21.1      9.8
Prices Paid for Raw Materials            9.8     63.9     26.2     16.4
Capital Expenditures                    14.4     54.2     31.4     17.0
Volume of New Orders for Exports         7.8     70.6     21.6     13.7
Supplier Delivery Time                   5.0     86.6      8.4     -3.4
INDUSTRY BUSINESS ACTIVITY              23.4     36.3     40.3     16.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
May 1998

                                     Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS        Decrease No Change Increase Index
Production                              21.6     20.8     57.6     36.0
Volume of Shipments                     27.6     20.3     52.0     24.4
Volume of New Orders                    29.0     25.0     46.0     16.9
Backlog of Orders                       22.2     44.4     33.3     11.1
Materials Inventories                   18.2     45.5     36.4     18.2
Finished Goods Inventories              21.8     44.5     33.6     11.8
Number of Employees                     26.4     34.4     39.2     12.8
Average Employee Workweek               14.4     64.0     21.6      7.2
Prices Received for Finished Goods      22.8     40.7     36.6     13.8
Prices Paid for Raw Materials           21.1     36.6     42.3     21.1
Capital Expenditures                    19.5     42.4     38.1     18.6
Volume of New Orders for Exports        14.9     65.3     19.8      5.0
Supplier Delivery Time                  12.6     76.5     10.9      1.7
INDUSTRY BUSINESS ACTIVITY              17.7     29.0     53.2     35.5