Southeastern Manufacturing Survey - June 1996 (May data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
MAY96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              23.7%    43.1%    33.2%     9.5
Volume of Shipments                     26.1%    38.4%    35.4%     9.3
Volume of New Orders                    28.5%    36.1%    35.4%     6.9
Backlog of Orders                       31.2%    46.8%    22.0%    -9.2
Materials Inventories                   31.5%    48.4%    20.1%   -11.4
Finished Goods Inventories              30.6%    50.9%    18.6%   -12.0
Number of Employees                     16.3%    66.0%    17.7%     1.4
Average Employee Workweek               12.3%    67.6%    20.1%     7.7
Prices Received for Finished Goods      11.5%    78.8%     9.7%    -1.8
Prices Paid for Raw Materials            8.6%    64.5%    26.9%    18.3
Volume of New Orders for Exports        10.4%    76.3%    13.3%     2.8
Supplier Delivery Time                  13.0%    79.6%     7.4%     5.6
INDUSTRY BUSINESS ACTIVITY              23.0%    43.5%    33.4%    10.4

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
MAY96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.6%    30.4%    50.0%    30.4
Volume of Shipments                     20.7%    29.2%    50.1%    29.3
Volume of New Orders                    21.4%    33.9%    44.7%    23.3
Backlog of Orders                       25.5%    41.6%    32.9%     7.4
Materials Inventories                   22.0%    57.7%    20.3%    -1.7
Finished Goods Inventories              27.4%    50.9%    21.7%    -5.7
Number of Employees                     17.9%    57.5%    24.6%     6.8
Average Employee Workweek               21.3%    62.5%    16.2%    -5.1
Prices Received for Finished Goods      15.6%    57.0%    27.4%    11.8
Prices Paid for Raw Materials           14.6%    47.0%    38.4%    23.8
Capital Expenditures                    13.9%    50.5%    35.6%    21.7
Volume of New Orders for Exports        14.4%    61.1%    24.4%    10.0
Supplier Delivery Time                   5.0%    89.1%     5.6%    -0.6
INDUSTRY BUSINESS ACTIVITY              22.5%    33.0%    44.5%    22.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.4%    44.7%    32.9%    10.5
Volume of Shipments                     27.9%    34.7%    37.4%     9.5
Volume of New Orders                    26.9%    37.6%    35.5%     8.6
Backlog of Orders                       25.9%    50.1%    23.9%    -2.0
Materials Inventories                   28.4%    52.1%    19.5%    -8.9
Finished Goods Inventories              31.3%    42.9%    25.8%    -5.4
Number of Employees                     16.7%    69.8%    13.4%    -3.3
Average Employee Workweek               13.2%    72.5%    14.4%     1.2
Prices Received for Finished Goods      20.2%    69.7%    10.1%   -10.1
Prices Paid for Raw Materials           11.6%    62.5%    25.9%    14.3
Volume of New Orders for Exports        15.3%    68.1%    16.6%     1.3
Supplier Delivery Time                   9.6%    84.2%     6.1%     3.5
INDUSTRY BUSINESS ACTIVITY              24.1%    51.7%    24.2%     0.1

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.4%    33.9%    44.7%    23.3
Volume of Shipments                     21.8%    27.7%    50.6%    28.8
Volume of New Orders                    18.7%    36.0%    45.3%    26.6
Backlog of Orders                       22.7%    53.5%    23.8%     1.0
Materials Inventories                   30.7%    54.1%    15.2%   -15.5
Finished Goods Inventories              34.5%    45.3%    20.2%   -14.3
Number of Employees                     28.1%    52.8%    19.1%    -9.1
Average Employee Workweek               14.5%    66.5%    18.9%     4.4
Prices Received for Finished Goods      16.8%    56.3%    26.9%    10.1
Prices Paid for Raw Materials           17.1%    44.0%    38.9%    21.8
Capital Expenditures                    13.6%    54.2%    32.2%    18.6
Volume of New Orders for Exports        10.5%    60.0%    29.5%    18.9
Supplier Delivery Time                   5.9%    84.8%     8.8%    -2.9
INDUSTRY BUSINESS ACTIVITY              22.4%    34.6%    43.0%    20.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
MAY96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.6%    45.2%    32.2%     9.6
Volume of Shipments                     26.1%    40.0%    33.9%     7.8
Volume of New Orders                    29.6%    36.5%    33.9%     4.4
Backlog of Orders                       33.9%    46.8%    19.3%   -14.7
Materials Inventories                   32.1%    46.4%    21.4%   -10.7
Finished Goods Inventories              31.5%    49.1%    19.4%   -12.0
Number of Employees                     15.8%    67.5%    16.7%     0.9
Average Employee Workweek               13.9%    67.0%    19.1%     5.2
Prices Received for Finished Goods      11.5%    78.8%     9.7%    -1.8
Prices Paid for Raw Materials            8.7%    65.2%    26.1%    17.4
Volume of New Orders for Exports        10.3%    77.0%    12.6%     2.3
Supplier Delivery Time                  13.0%    79.6%     7.4%     5.6
INDUSTRY BUSINESS ACTIVITY              24.8%    45.1%    30.1%     5.3

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
MAY96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.0%    28.6%    46.4%    21.4
Volume of Shipments                     26.8%    27.7%    45.5%    18.8
Volume of New Orders                    27.0%    34.2%    38.7%    11.7
Backlog of Orders                       29.9%    43.0%    27.1%    -2.8
Materials Inventories                   24.5%    57.3%    18.2%    -6.4
Finished Goods Inventories              31.1%    47.2%    21.7%    -9.4
Number of Employees                     22.5%    57.7%    19.8%    -2.7
Average Employee Workweek               23.4%    63.1%    13.5%    -9.9
Prices Received for Finished Goods      16.2%    61.3%    22.5%     6.3
Prices Paid for Raw Materials           15.2%    50.0%    34.8%    19.6
Capital Expenditures                    14.0%    53.3%    32.7%    18.7
Volume of New Orders for Exports        14.4%    61.1%    24.4%    10.0
Supplier Delivery Time                   3.9%    87.4%     8.7%    -4.9
INDUSTRY BUSINESS ACTIVITY              26.7%    34.3%    39.0%    12.4

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
MAY96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              36.8%    13.2%    50.0%    13.2
Volume of Shipments                     36.8%    14.9%    48.2%    11.4
Volume of New Orders                    40.4%    18.4%    41.2%     0.9
Backlog of Orders                       38.2%    31.8%    30.0%    -8.2
Materials Inventories                   36.8%    35.1%    28.1%    -8.8
Finished Goods Inventories              32.7%    36.4%    30.9%    -1.8
Number of Employees                     38.1%    31.9%    30.1%    -8.0
Average Employee Workweek               25.2%    49.6%    25.2%     0.0
Prices Received for Finished Goods      29.2%    25.7%    45.1%    15.9
Prices Paid for Raw Materials           21.7%    17.4%    60.9%    39.1
Capital Expenditures                    24.5%    40.6%    34.9%    10.4
Volume of New Orders for Exports        16.9%    57.3%    25.8%     9.0
Supplier Delivery Time                  13.6%    68.0%    18.4%    -4.9
INDUSTRY BUSINESS ACTIVITY              42.7%    23.6%    33.6%    -9.1

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.7%    47.5%    30.8%     9.2
Volume of Shipments                     28.1%    37.2%    34.7%     6.6
Volume of New Orders                    29.8%    38.0%    32.2%     2.5
Backlog of Orders                       25.2%    50.4%    24.3%    -0.9
Materials Inventories                   25.2%    52.9%    21.8%    -3.4
Finished Goods Inventories              28.4%    42.2%    29.3%     0.9
Number of Employees                     16.7%    69.2%    14.2%    -2.5
Average Employee Workweek               12.5%    70.8%    16.7%     4.2
Prices Received for Finished Goods      20.2%    69.7%    10.1%   -10.1
Prices Paid for Raw Materials           12.6%    62.2%    25.2%    12.6
Volume of New Orders for Exports        15.4%    67.0%    17.6%     2.2
Supplier Delivery Time                   9.6%    84.2%     6.1%     3.5
INDUSTRY BUSINESS ACTIVITY              21.8%    51.3%    26.9%     5.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.5%    35.6%    44.9%    25.4
Volume of Shipments                     20.3%    31.4%    48.3%    28.0
Volume of New Orders                    17.9%    39.3%    42.7%    24.8
Backlog of Orders                       22.5%    55.0%    22.5%     0.0
Materials Inventories                   28.1%    57.0%    14.9%   -13.2
Finished Goods Inventories              34.2%    47.4%    18.4%   -15.8
Number of Employees                     28.0%    54.2%    17.8%   -10.2
Average Employee Workweek               14.4%    68.6%    16.9%     2.5
Prices Received for Finished Goods      14.5%    61.5%    23.9%     9.4
Prices Paid for Raw Materials           17.9%    48.7%    33.3%    15.4
Capital Expenditures                    12.7%    58.2%    29.1%    16.4
Volume of New Orders for Exports        10.5%    60.0%    29.5%    19.0
Supplier Delivery Time                   5.5%    85.3%     9.2%    -3.7
INDUSTRY BUSINESS ACTIVITY              19.8%    41.4%    38.8%    19.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              35.3%    20.2%    44.5%     9.2
Volume of Shipments                     36.7%    18.3%    45.0%     8.3
Volume of New Orders                    37.8%    27.7%    34.5%    -3.4
Backlog of Orders                       43.0%    29.8%    27.2%   -15.8
Materials Inventories                   31.6%    41.0%    27.4%    -4.3
Finished Goods Inventories              34.5%    34.5%    31.0%    -3.5
Number of Employees                     40.2%    35.0%    24.8%   -15.4
Average Employee Workweek               24.8%    53.0%    22.2%    -2.6
Prices Received for Finished Goods      30.2%    32.8%    37.1%     6.9
Prices Paid for Raw Materials           19.0%    21.6%    59.5%    40.5
Capital Expenditures                    25.9%    44.4%    29.6%     3.7
Volume of New Orders for Exports        19.8%    50.0%    30.2%    10.4
Supplier Delivery Time                  11.7%    72.1%    16.2%    -4.5
INDUSTRY BUSINESS ACTIVITY              43.1%    25.0%    31.9%   -11.2