Southeastern Manufacturing Survey - June 1997 (May data)

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                              21.7     44.7     33.7     12.0
Volume of Shipments                     19.6     43.2     37.2     17.6
Volume of New Orders                    21.4     49.0     29.6      8.2
Backlog of Orders                       19.5     59.7     20.8      1.3
Materials Inventories                   20.5     64.8     14.7     -5.8
Finished Goods Inventories              27.3     47.8     24.9     -2.4
Number of Employees                     17.1     64.7     18.3      1.2
Average Employee Workweek               13.4     69.7     17.0      3.6
Prices Received for Finished Goods*     13.2     78.3      8.5     -4.7
Prices Paid for Raw Materials            9.3     68.7     22.0     12.7
Volume of New Orders for Exports*        8.3     77.4     14.3      6.0
Supplier Delivery Time*                  7.1     88.8      4.1      3.1
INDUSTRY BUSINESS ACTIVITY              18.2     47.5     34.4     16.2

*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                              10.9     41.3     47.9     37.0
Volume of Shipments                     11.1     36.8     52.1     41.1
Volume of New Orders                     7.3     42.6     50.1     42.9
Backlog of Orders                       13.8     53.3     32.9     19.1
Materials Inventories                   22.6     59.1     18.2     -4.4
Finished Goods Inventories              27.7     52.6     19.7     -8.0
Number of Employees                     12.3     60.3     27.4     15.1
Average Employee Workweek               17.6     66.8     15.6     -2.0
Prices Received for Finished Goods       9.7     58.2     32.2     22.5
Prices Paid for Raw Materials           10.7     50.0     39.3     28.7
Capital Expenditures                    15.9     54.5     29.6     13.8
Volume of New Orders for Exports*        5.7     65.9     28.4     22.7
Supplier Delivery Time*                  7.2     84.5      8.2     -1.0
INDUSTRY BUSINESS ACTIVITY              11.9     41.3     46.8     34.9

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
Apr97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.8     42.1     38.1     18.3
Volume of Shipments                     17.2     41.7     41.1     23.9
Volume of New Orders                    11.7     47.5     40.9     29.2
Backlog of Orders                       20.2     50.5     29.3      9.1
Materials Inventories                   19.9     65.1     15.0     -4.9
Finished Goods Inventories              22.7     52.6     24.7      2.0
Number of Employees                     12.4     70.8     16.9      4.5
Average Employee Workweek               16.6     65.3     18.1      1.5
Prices Received for Finished Goods*     10.0     76.0     14.0      4.0
Prices Paid for Raw Materials            8.9     65.8     25.3     16.4
Volume of New Orders for Exports*        9.5     74.3     16.2      6.8
Supplier Delivery Time*                  5.4     91.4      3.2      2.2
INDUSTRY BUSINESS ACTIVITY              16.2     45.6     38.3     22.1

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
Apr97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.6     38.8     47.5     33.9
Volume of Shipments                     14.6     35.1     50.4     35.8
Volume of New Orders                    16.0     39.8     44.2     28.3
Backlog of Orders                       23.3     49.5     27.2      3.9
Materials Inventories                   24.3     56.7     19.1     -5.2
Finished Goods Inventories              25.1     52.3     22.6     -2.4
Number of Employees                     12.2     66.1     21.6      9.4
Average Employee Workweek               15.2     65.9     19.0      3.8
Prices Received for Finished Goods      10.7     53.3     36.0     25.3
Prices Paid for Raw Materials           11.7     45.8     42.6     30.9
Capital Expenditures                    16.5     51.6     31.9     15.4
Volume of New Orders for Exports*        3.7     67.1     29.3     25.6
Supplier Delivery Time*                  4.4     90.1      5.5     -1.1
INDUSTRY BUSINESS ACTIVITY              13.5     33.5     53.0     39.4

*Not Seasonally Adjusted

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                              19.8     48.1     32.1     12.3
Volume of Shipments                     17.9     46.2     35.8     17.9
Volume of New Orders                    23.6     48.1     28.3      4.7
Backlog of Orders                       20.6     62.7     16.7     -3.9
Materials Inventories                   21.0     62.9     16.2     -4.8
Finished Goods Inventories              29.4     49.0     21.6     -7.8
Number of Employees                     17.0     65.1     17.9      0.9
Average Employee Workweek               14.2     70.8     15.1      0.9
Prices Received for Finished Goods      13.2     78.3      8.5     -4.7
Prices Paid for Raw Materials            9.5     68.6     21.9     12.4
Volume of New Orders for Exports         8.3     77.4     14.3      6.0
Supplier Delivery Time                   7.1     88.8      4.1      3.1
INDUSTRY BUSINESS ACTIVITY              17.9     47.2     34.9     17.0



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                              17.0     40.6     42.5     25.5
Volume of Shipments                     17.9     36.8     45.3     27.4
Volume of New Orders                    15.1     42.5     42.5     27.4
Backlog of Orders                       19.6     52.9     27.5      7.8
Materials Inventories                   25.0     58.0     17.0     -8.0
Finished Goods Inventories              32.0     48.0     20.0    -12.0
Number of Employees                     16.0     60.4     23.6      7.6
Average Employee Workweek               21.2     67.3     11.5     -9.6
Prices Received for Finished Goods       9.6     64.4     26.0     16.4
Prices Paid for Raw Materials            9.4     53.8     36.8     27.4
Capital Expenditures                    16.7     56.9     26.5      9.8
Volume of New Orders for Exports         5.7     65.9     28.4     22.7
Supplier Delivery Time                   7.2     84.5      8.2     -1.0
INDUSTRY BUSINESS ACTIVITY              19.0     41.9     39.0     20.0



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                              27.6     28.6     43.8     16.2
Volume of Shipments                     26.4     32.1     41.5     15.1
Volume of New Orders                    24.5     34.0     41.5     17.0
Backlog of Orders                       27.5     44.1     28.4      1.0
Materials Inventories                   23.1     51.0     26.0      2.9
Finished Goods Inventories              29.7     48.5     21.8     -7.9
Number of Employees                     29.5     40.0     30.5      1.0
Average Employee Workweek               22.6     57.5     19.8     -2.8
Prices Received for Finished Goods      24.5     36.8     38.7     14.2
Prices Paid for Raw Materials           17.1     34.3     48.6     31.4
Capital Expenditures                    24.8     42.6     32.7      7.9
Volume of New Orders for Exports         9.1     65.9     25.0     15.9
Supplier Delivery Time                  12.4     76.3     11.3      1.0
INDUSTRY BUSINESS ACTIVITY              23.6     29.2     47.2     23.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
Apr97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.2     45.5     36.4     18.2
Volume of Shipments                     16.2     43.4     40.4     24.2
Volume of New Orders                    13.0     47.0     40.0     27.0
Backlog of Orders                       16.8     51.6     31.6     14.7
Materials Inventories                   18.4     65.3     16.3     -2.0
Finished Goods Inventories              19.1     53.2     27.7      8.5
Number of Employees                     11.1     72.7     16.2      5.1
Average Employee Workweek               15.0     68.0     17.0      2.0
Prices Received for Finished Goods      10.0     76.0     14.0      4.0
Prices Paid for Raw Materials            9.0     66.0     25.0     16.0
Volume of New Orders for Exports         9.5     74.3     16.2      6.8
Supplier Delivery Time                   5.4     91.4      3.2      2.2
INDUSTRY BUSINESS ACTIVITY              12.5     46.9     40.6     28.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
Apr97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.1     43.4     43.4     30.3
Volume of Shipments                     15.3     38.8     45.9     30.6
Volume of New Orders                    16.0     44.0     40.0     24.0
Backlog of Orders                       23.4     51.1     25.5      2.1
Materials Inventories                   21.2     59.6     19.2     -2.0
Finished Goods Inventories              25.8     51.6     22.6     -3.2
Number of Employees                     11.1     67.7     21.2     10.1
Average Employee Workweek               12.0     70.0     18.0      6.0
Prices Received for Finished Goods       8.0     59.0     33.0     25.0
Prices Paid for Raw Materials           13.0     48.0     39.0     26.0
Capital Expenditures                    17.0     54.3     28.7     11.7
Volume of New Orders for Exports         3.7     67.1     29.3     25.6
Supplier Delivery Time                   4.4     90.1      5.5     -1.1
INDUSTRY BUSINESS ACTIVITY              13.8     40.4     45.7     31.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
Apr97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.0     28.0     50.0     28.0
Volume of Shipments                     21.2     34.3     44.4     23.2
Volume of New Orders                    20.0     33.0     47.0     27.0
Backlog of Orders                       27.7     38.3     34.0      6.4
Materials Inventories                   27.3     51.5     21.2     -6.1
Finished Goods Inventories              26.3     41.1     32.6      6.3
Number of Employees                     24.2     41.4     34.3     10.1
Average Employee Workweek               17.0     61.0     22.0      5.0
Prices Received for Finished Goods      24.0     35.0     41.0     17.0
Prices Paid for Raw Materials           20.0     31.0     49.0     29.0
Capital Expenditures                    26.3     41.1     32.6      6.3
Volume of New Orders for Exports        12.2     62.2     25.6     13.4
Supplier Delivery Time                   7.5     80.6     11.8     -4.3
INDUSTRY BUSINESS ACTIVITY              20.8     28.1     51.0     30.2