Southeastern Manufacturing Survey - March 1996 (February data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              33.0%    43.0%    24.0%    -9.0
Volume of Shipments                     38.7%    26.1%    35.2%    -3.6
Volume of New Orders                    40.9%    33.5%    25.6%   -15.3
Backlog of Orders                       38.7%    43.4%    17.9%   -20.8
Materials Inventories                   24.1%    58.4%    17.6%    -6.5
Finished Goods Inventories              25.3%    51.6%    23.1%    -2.3
Number of Employees                     19.8%    71.0%     9.2%   -10.6
Average Employee Workweek               24.2%    56.8%    19.0%    -5.2
Prices Received for Finished Goods      22.3%    68.8%     8.9%   -13.4
Prices Paid for Raw Materials           19.0%    65.1%    15.8%    -3.2
Volume of New Orders for Exports        13.6%    73.0%    13.4%    -0.2
Supplier Delivery Time                   5.5%    83.6%    10.9%    -5.5
INDUSTRY BUSINESS ACTIVITY              37.1%    40.6%    22.3%   -14.9

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.9%    31.9%    48.2%    28.2
Volume of Shipments                     21.9%    26.3%    51.9%    30.0
Volume of New Orders                    18.8%    31.9%    49.4%    30.6
Backlog of Orders                       21.1%    45.2%    33.7%    12.6
Materials Inventories                   28.5%    59.2%    12.3%   -16.2
Finished Goods Inventories              36.2%    48.9%    15.0%   -21.2
Number of Employees                     23.8%    56.9%    19.4%    -4.4
Average Employee Workweek               19.0%    58.4%    22.6%     3.7
Prices Received for Finished Goods      18.6%    56.7%    24.7%     6.1
Prices Paid for Raw Materials           12.5%    51.0%    36.5%    24.1
Capital Expenditures                    17.2%    57.8%    25.0%     7.8
Volume of New Orders for Exports        12.1%    64.8%    23.1%    11.0
Supplier Delivery Time                   3.2%    84.8%    11.5%    -8.3
INDUSTRY BUSINESS ACTIVITY              17.8%    35.4%    46.8%    29.0

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JAN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              26.6%    43.1%    30.3%     3.7
Volume of Shipments                     30.5%    36.4%    33.1%     2.7
Volume of New Orders                    33.2%    40.5%    26.3%    -6.9
Backlog of Orders                       31.5%    51.0%    17.5%   -14.0
Materials Inventories                   21.3%    59.8%    18.8%    -2.5
Finished Goods Inventories              21.5%    50.7%    27.9%     6.4
Number of Employees                     21.0%    62.2%    16.7%    -4.3
Average Employee Workweek               16.3%    70.3%    13.4%    -2.9
Prices Received for Finished Goods      16.9%    69.0%    14.1%    -2.8
Prices Paid for Raw Materials           14.9%    63.3%    21.8%     6.9
Volume of New Orders for Exports         8.5%    77.2%    14.3%     5.8
Supplier Delivery Time                   5.3%    85.6%     9.1%    -3.8
INDUSTRY BUSINESS ACTIVITY              34.8%    43.6%    21.6%   -13.2

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JAN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.5%    40.6%    37.0%    14.5
Volume of Shipments                     23.0%    38.7%    38.3%    15.2
Volume of New Orders                    20.6%    42.6%    36.8%    16.2
Backlog of Orders                       29.1%    51.8%    19.1%   -10.0
Materials Inventories                   33.1%    53.2%    13.8%   -19.3
Finished Goods Inventories              33.5%    49.9%    16.6%   -16.9
Number of Employees                     24.6%    55.7%    19.7%    -4.9
Average Employee Workweek               19.8%    66.3%    14.0%    -5.8
Prices Received for Finished Goods      22.5%    53.6%    23.9%     1.5
Prices Paid for Raw Materials           17.6%    49.4%    33.0%    15.4
Capital Expenditures                    16.3%    49.5%    34.2%    17.8
Volume of New Orders for Exports         7.8%    67.2%    25.0%    17.2
Supplier Delivery Time                   2.5%    83.7%    13.5%   -11.0
INDUSTRY BUSINESS ACTIVITY              26.0%    40.1%    33.9%     7.9

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.9%    43.0%    28.1%    -0.9
Volume of Shipments                     34.5%    27.4%    38.1%     3.5
Volume of New Orders                    36.3%    34.5%    29.2%    -7.1
Backlog of Orders                       33.6%    45.5%    20.9%   -12.7
Materials Inventories                   19.8%    62.2%    18.0%    -1.8
Finished Goods Inventories              20.4%    51.9%    27.8%     7.4
Number of Employees                     17.9%    71.4%    10.7%    -7.1
Average Employee Workweek               20.5%    60.7%    18.8%    -1.8
Prices Received for Finished Goods      22.3%    68.8%     8.9%   -13.4
Prices Paid for Raw Materials           18.5%    63.9%    17.6%    -0.9
Volume of New Orders for Exports        11.9%    75.0%    13.1%     1.2
Supplier Delivery Time                   5.5%    83.6%    10.9%    -5.5
INDUSTRY BUSINESS ACTIVITY              34.2%    42.1%    23.7%   -10.5

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.0%    32.1%    50.9%    33.9
Volume of Shipments                     17.9%    26.8%    55.4%    37.5
Volume of New Orders                    16.8%    31.9%    51.3%    34.5
Backlog of Orders                       18.2%    44.5%    37.3%    19.1
Materials Inventories                   25.9%    58.9%    15.2%   -10.7
Finished Goods Inventories              37.6%    46.8%    15.6%   -22.0
Number of Employees                     21.2%    58.4%    20.4%    -0.9
Average Employee Workweek               15.0%    59.3%    25.7%    10.6
Prices Received for Finished Goods      17.7%    54.0%    28.3%    10.6
Prices Paid for Raw Materials           12.8%    51.4%    35.8%    22.9
Capital Expenditures                    14.7%    57.8%    27.5%    12.8
Volume of New Orders for Exports        12.1%    64.8%    23.1%    11.0
Supplier Delivery Time                   5.5%    84.4%    10.1%    -4.6
INDUSTRY BUSINESS ACTIVITY              14.7%    33.9%    51.4%    36.7

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
FEB96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              38.9%    23.0%    38.1%    -0.9
Volume of Shipments                     40.2%    18.8%    41.1%     0.9
Volume of New Orders                    40.7%    23.9%    35.4%    -5.3
Backlog of Orders                       43.1%    33.9%    22.9%   -20.2
Materials Inventories                   31.3%    48.2%    20.5%   -10.7
Finished Goods Inventories              29.1%    39.1%    31.8%     2.7
Number of Employees                     40.7%    31.0%    28.3%   -12.4
Average Employee Workweek               23.9%    53.1%    23.0%    -0.9
Prices Received for Finished Goods      31.0%    25.7%    43.4%    12.4
Prices Paid for Raw Materials           19.3%    25.7%    55.0%    35.8
Capital Expenditures                    20.8%    47.2%    32.1%    11.3
Volume of New Orders for Exports        15.6%    63.3%    21.1%     5.6
Supplier Delivery Time                   7.3%    70.9%    21.8%   -14.5
INDUSTRY BUSINESS ACTIVITY              46.0%    23.9%    30.1%   -15.9

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JAN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              24.1%    41.1%    34.8%    10.6
Volume of Shipments                     31.0%    30.3%    38.7%     7.8
Volume of New Orders                    30.3%    40.1%    29.6%    -0.7
Backlog of Orders                       30.4%    50.7%    18.8%   -11.6
Materials Inventories                   19.0%    59.1%    21.9%     2.9
Finished Goods Inventories              20.6%    49.3%    30.1%     9.6
Number of Employees                     21.8%    59.2%    19.0%    -2.8
Average Employee Workweek               15.7%    69.3%    15.0%    -0.7
Prices Received for Finished Goods      16.9%    69.0%    14.1%    -2.8
Prices Paid for Raw Materials           15.6%    58.9%    25.5%     9.9
Volume of New Orders for Exports         8.7%    74.0%    17.3%     8.7
Supplier Delivery Time                   5.3%    85.6%     9.1%    -3.8
INDUSTRY BUSINESS ACTIVITY              35.2%    40.1%    24.6%   -10.6

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JAN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.3%    38.0%    43.7%    25.4
Volume of Shipments                     19.0%    35.9%    45.1%    26.1
Volume of New Orders                    16.2%    40.1%    43.7%    27.5
Backlog of Orders                       25.4%    51.4%    23.2%    -2.2
Materials Inventories                   30.4%    51.4%    18.1%   -12.3
Finished Goods Inventories              31.6%    49.3%    19.1%   -12.5
Number of Employees                     21.1%    55.6%    23.2%     2.1
Average Employee Workweek               15.7%    66.4%    17.9%     2.1
Prices Received for Finished Goods      20.6%    51.1%    28.4%     7.8
Prices Paid for Raw Materials           18.0%    46.8%    35.3%    17.3
Capital Expenditures                    16.0%    49.6%    34.4%    18.3
Volume of New Orders for Exports         7.8%    67.2%    25.0%    17.2
Supplier Delivery Time                   3.8%    84.7%    11.5%    -7.6
INDUSTRY BUSINESS ACTIVITY              21.7%    37.0%    41.3%    19.6

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JAN96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              37.1%    20.0%    42.9%     5.7
Volume of Shipments                     36.6%    17.6%    45.8%     9.2
Volume of New Orders                    34.5%    23.2%    42.3%     7.8
Backlog of Orders                       34.8%    35.5%    29.7%    -5.1
Materials Inventories                   32.1%    35.8%    32.1%     0.0
Finished Goods Inventories              31.1%    32.6%    36.3%     5.2
Number of Employees                     38.0%    30.3%    31.7%    -6.3
Average Employee Workweek               26.1%    54.9%    19.0%    -7.0
Prices Received for Finished Goods      22.5%    28.2%    49.3%    26.8
Prices Paid for Raw Materials           19.4%    18.7%    61.9%    42.5
Capital Expenditures                    24.4%    43.5%    32.1%     7.6
Volume of New Orders for Exports        12.8%    60.7%    26.5%    13.7
Supplier Delivery Time                   8.3%    72.9%    18.8%   -10.5
INDUSTRY BUSINESS ACTIVITY              45.0%    17.1%    37.9%    -7.1