Southeastern Manufacturing Survey - June 1999 (May data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
May 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.6     41.8     37.6     17.1
Volume of Shipments                     27.2     37.2     35.6      8.4
Volume of New Orders                    20.7     36.6     42.7     21.9
Backlog of Orders                       17.4     54.0     28.7     11.3
Materials Inventories                   17.4     65.2     17.4      0.0
Finished Goods Inventories              17.7     56.5     25.8      8.1
Number of Employees                     12.7     67.8     19.5      6.7
Average Employee Workweek               12.7     68.2     19.0      6.3
Prices Received for Finished Goods*     12.0     74.7     13.3      1.2
Prices Paid for Raw Materials*          14.5     68.7     16.9      2.4
Volume of New Orders for Exports*        6.7     80.0     13.3      6.7
Supplier Delivery Time*                  2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              22.6     45.6     31.8      9.1

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
May 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.4     38.0     50.7     39.3
Volume of Shipments                     13.0     32.9     54.1     41.1
Volume of New Orders                    18.2     35.3     46.5     28.3
Backlog of Orders                       22.9     51.7     25.4      2.5
Materials Inventories                   20.6     65.1     14.3     -6.3
Finished Goods Inventories              19.9     58.3     21.8      1.9
Number of Employees                     18.8     56.0     25.2      6.4
Average Employee Workweek               16.1     62.5     21.4      5.3
Prices Received for Finished Goods      10.9     58.4     30.7     19.8
Prices Paid for Raw Materials           14.2     59.3     26.4     12.2
Capital Expenditures                    17.0     50.5     32.5     15.5
Volume of New Orders for Exports*        9.1     72.7     18.2      9.1
Supplier Delivery Time*                  2.7     94.5      2.7      0.0
INDUSTRY BUSINESS ACTIVITY              18.3     37.6     44.1     25.9

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
April 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.3     36.8     42.9     22.6
Volume of Shipments                     23.5     39.8     36.8     13.4
Volume of New Orders                    20.5     41.2     38.4     17.9
Backlog of Orders                       18.4     59.2     22.4      4.0
Materials Inventories                   20.2     70.4      9.3    -10.9
Finished Goods Inventories              23.6     63.3     13.1    -10.5
Number of Employees                     12.8     67.0     20.3      7.5
Average Employee Workweek               11.9     69.1     18.9      7.0
Prices Received for Finished Goods*     14.6     63.4     22.0      7.3
Prices Paid for Raw Materials*          14.6     61.0     24.4      9.8
Volume of New Orders for Exports*        9.8     80.3      9.8      0.0
Supplier Delivery Time*                  5.4     94.6      0.0      5.4
INDUSTRY BUSINESS ACTIVITY              18.7     50.0     31.2     12.5

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
April 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.1     35.9     50.9     37.8
Volume of Shipments                     16.4     30.9     52.7     36.3
Volume of New Orders                    16.9     33.9     49.3     32.4
Backlog of Orders                       23.3     50.2     26.6      3.3
Materials Inventories                   18.9     70.2     10.8     -8.1
Finished Goods Inventories              21.4     59.8     18.9     -2.5
Number of Employees                     20.9     56.3     22.8      1.9
Average Employee Workweek               22.1     60.7     17.3     -4.8
Prices Received for Finished Goods      12.7     57.7     29.6     16.9
Prices Paid for Raw Materials            8.7     52.4     39.0     30.3
Capital Expenditures                    18.9     50.4     30.7     11.8
Volume of New Orders for Exports*       12.5     71.9     15.6      3.1
Supplier Delivery Time*                  4.0     93.3      2.7      1.3
INDUSTRY BUSINESS ACTIVITY              19.3     39.4     41.3     22.0

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
May 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.7     45.8     38.6     22.9
Volume of Shipments                     24.4     39.0     36.6     12.2
Volume of New Orders                    20.5     36.1     43.4     22.9
Backlog of Orders                       15.6     58.4     26.0     10.4
Materials Inventories                   16.0     64.2     19.8      3.7
Finished Goods Inventories              16.3     60.0     23.8      7.5
Number of Employees                     13.3     66.3     20.5      7.2
Average Employee Workweek               10.8     69.9     19.3      8.4
Prices Received for Finished Goods      12.0     74.7     13.3      1.2
Prices Paid for Raw Materials           14.5     68.7     16.9      2.4
Volume of New Orders for Exports         6.7     80.0     13.3      6.7
Supplier Delivery Time                   2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              19.0     45.6     35.4     16.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
May 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.7     38.6     45.8     30.1
Volume of Shipments                     18.1     33.7     48.2     30.1
Volume of New Orders                    24.1     36.1     39.8     15.7
Backlog of Orders                       25.6     52.6     21.8     -3.9
Materials Inventories                   23.8     63.8     12.5    -11.3
Finished Goods Inventories              21.3     57.5     21.3      0.0
Number of Employees                     19.3     57.8     22.9      3.6
Average Employee Workweek               18.3     63.4     18.3      0.0
Prices Received for Finished Goods       9.6     63.9     26.5     16.9
Prices Paid for Raw Materials           12.0     65.1     22.9     10.8
Capital Expenditures                    17.9     52.6     29.5     11.5
Volume of New Orders for Exports         9.1     72.7     18.2      9.1
Supplier Delivery Time                   2.7     94.5      2.7      0.0
INDUSTRY BUSINESS ACTIVITY              23.3     35.6     41.1     17.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
May 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              25.3     24.1     50.6     25.3
Volume of Shipments                     28.9     22.9     48.2     19.3
Volume of New Orders                    23.5     19.8     56.8     33.3
Backlog of Orders                       24.4     42.3     33.3      9.0
Materials Inventories                   21.0     49.4     29.6      8.6
Finished Goods Inventories              22.5     45.0     32.5     10.0
Number of Employees                     24.1     31.3     44.6     20.5
Average Employee Workweek               14.5     55.4     30.1     15.7
Prices Received for Finished Goods      22.9     44.6     32.5      9.6
Prices Paid for Raw Materials           27.7     39.8     32.5      4.8
Capital Expenditures                    21.3     36.0     42.7     21.3
Volume of New Orders for Exports        12.1     66.7     21.2      9.1
Supplier Delivery Time                   6.7     89.3      4.0      2.7
INDUSTRY BUSINESS ACTIVITY              23.6     20.8     55.6     31.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
April 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.1     32.9     50.0     32.9
Volume of Shipments                     18.5     39.5     42.0     23.5
Volume of New Orders                    19.5     39.0     41.5     22.0
Backlog of Orders                       16.7     59.0     24.4      7.7
Materials Inventories                   18.5     72.8      8.6     -9.9
Finished Goods Inventories              22.4     63.2     14.5     -7.9
Number of Employees                     10.8     69.9     19.3      8.4
Average Employee Workweek                9.6     71.1     19.3      9.6
Prices Received for Finished Goods      14.6     63.4     22.0      7.3
Prices Paid for Raw Materials           14.6     61.0     24.4      9.8
Volume of New Orders for Exports         9.8     80.3      9.8      0.0
Supplier Delivery Time                   5.4     94.6      0.0      5.4
INDUSTRY BUSINESS ACTIVITY              12.5     48.8     38.8     26.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
April 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.6     39.5     46.9     33.3
Volume of Shipments                     17.3     33.3     49.4     32.1
Volume of New Orders                    18.1     36.1     45.8     27.7
Backlog of Orders                       25.6     51.3     23.1     -2.6
Materials Inventories                   17.5     75.0      7.5    -10.0
Finished Goods Inventories              23.4     58.4     18.2     -5.2
Number of Employees                     20.5     56.6     22.9      2.4
Average Employee Workweek               20.7     63.4     15.9     -4.9
Prices Received for Finished Goods      11.1     60.5     28.4     17.3
Prices Paid for Raw Materials            9.8     54.9     35.4     25.6
Capital Expenditures                    19.2     51.3     29.5     10.3
Volume of New Orders for Exports        12.5     71.9     15.6      3.1
Supplier Delivery Time                   4.0     93.3      2.7      1.3
INDUSTRY BUSINESS ACTIVITY              18.9     41.9     39.2     20.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
April 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.4     21.0     50.6     22.2
Volume of Shipments                     28.0     23.2     48.8     20.7
Volume of New Orders                    26.5     27.7     45.8     19.3
Backlog of Orders                       28.2     39.7     32.1      3.9
Materials Inventories                   24.7     49.4     25.9      1.2
Finished Goods Inventories              26.0     42.9     31.2      5.2
Number of Employees                     24.1     37.3     38.6     14.5
Average Employee Workweek               12.0     59.0     28.9     16.9
Prices Received for Finished Goods      26.8     40.2     32.9      6.1
Prices Paid for Raw Materials           29.3     37.8     32.9      3.7
Capital Expenditures                    21.5     46.8     31.6     10.1
Volume of New Orders for Exports        17.5     71.4     11.1     -6.4
Supplier Delivery Time                   3.9     93.4      2.6      1.3
INDUSTRY BUSINESS ACTIVITY              27.3     35.1     37.7     10.4