Southeastern Manufacturing Survey - March 1999 (February data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.6     48.9     34.5     18.0
Volume of Shipments                     21.6     41.0     37.4     15.8
Volume of New Orders                    23.5     44.8     31.7      8.3
Backlog of Orders                       16.7     55.4     27.9     11.2
Materials Inventories                   14.3     60.7     25.0     10.6
Finished Goods Inventories              21.7     60.6     17.8     -3.9
Number of Employees                     11.4     59.0     29.6     18.2
Average Employee Workweek               14.7     64.8     20.6      5.9
Prices Received for Finished Goods*     13.3     73.3     13.3      0.0
Prices Paid for Raw Materials*          25.0     65.9      9.1    -15.9
Volume of New Orders for Exports*        9.1     75.8     15.2      6.1
Supplier Delivery Time*                  4.8     90.5      4.8      0.0
INDUSTRY BUSINESS ACTIVITY              17.0     53.3     29.7     12.7

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.5     34.1     52.5     39.0
Volume of Shipments                     16.3     32.6     51.1     34.8
Volume of New Orders                    12.1     40.4     47.5     35.5
Backlog of Orders                       15.8     53.8     30.4     14.6
Materials Inventories                   14.8     60.7     24.6      9.8
Finished Goods Inventories              25.6     47.6     26.8      1.3
Number of Employees                     22.9     63.2     13.9     -9.1
Average Employee Workweek               20.7     60.3     19.0     -1.7
Prices Received for Finished Goods       9.5     63.1     27.5     18.0
Prices Paid for Raw Materials            7.9     54.2     37.9     30.0
Capital Expenditures                    12.5     44.1     43.4     30.9
Volume of New Orders for Exports*        5.7     71.4     22.9     17.1
Supplier Delivery Time*                  4.9     90.2      4.9      0.0
INDUSTRY BUSINESS ACTIVITY              17.4     48.3     34.3     16.9

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.3     49.2     32.5     14.2
Volume of Shipments                     20.0     43.5     36.4     16.4
Volume of New Orders                    21.7     41.0     37.3     15.7
Backlog of Orders                       21.5     56.4     22.1      0.5
Materials Inventories                   12.8     70.0     17.2      4.4
Finished Goods Inventories              16.0     60.8     23.2      7.2
Number of Employees                     16.4     65.0     18.6      2.2
Average Employee Workweek               19.0     65.7     15.3     -3.7
Prices Received for Finished Goods*     15.9     70.7     13.4     -2.4
Prices Paid for Raw Materials*          13.9     68.4     17.7      3.8
Volume of New Orders for Exports*       10.3     79.3     10.3      0.0
Supplier Delivery Time*                  2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              19.7     50.4     30.0     10.3

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.1     36.4     50.5     37.4
Volume of Shipments                     16.4     29.9     53.7     37.3
Volume of New Orders                    16.9     37.1     46.0     29.2
Backlog of Orders                       17.6     57.4     25.1      7.5
Materials Inventories                   17.1     64.7     18.2      1.1
Finished Goods Inventories              22.1     61.7     16.2     -6.0
Number of Employees                     18.4     51.1     30.6     12.2
Average Employee Workweek               19.5     59.4     21.2      1.7
Prices Received for Finished Goods      18.1     53.8     28.1     10.0
Prices Paid for Raw Materials           15.8     52.6     31.6     15.8
Capital Expenditures                    22.8     51.2     25.9      3.1
Volume of New Orders for Exports*       11.3     58.1     30.6     19.4
Supplier Delivery Time*                  0.0     95.9      4.1     -4.1
INDUSTRY BUSINESS ACTIVITY              16.2     37.7     46.2     30.0

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.1     51.1     37.8     26.7
Volume of Shipments                     13.3     44.4     42.2     28.9
Volume of New Orders                    17.8     48.9     33.3     15.6
Backlog of Orders                       14.6     56.1     29.3     14.6
Materials Inventories                   11.4     63.6     25.0     13.6
Finished Goods Inventories              18.6     60.5     20.9      2.3
Number of Employees                      8.9     60.0     31.1     22.2
Average Employee Workweek               11.1     64.4     24.4     13.3
Prices Received for Finished Goods      13.3     73.3     13.3      0.0
Prices Paid for Raw Materials           25.0     65.9      9.1    -15.9
Volume of New Orders for Exports         9.1     75.8     15.2      6.1
Supplier Delivery Time                   4.8     90.5      4.8      0.0
INDUSTRY BUSINESS ACTIVITY              13.6     56.8     29.5     15.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.4     31.8     56.8     45.5
Volume of Shipments                     13.3     31.1     55.6     42.2
Volume of New Orders                     9.1     40.9     50.0     40.9
Backlog of Orders                       12.2     56.1     31.7     19.5
Materials Inventories                   14.0     60.5     25.6     11.6
Finished Goods Inventories              27.9     46.5     25.6     -2.3
Number of Employees                     22.7     61.4     15.9     -6.8
Average Employee Workweek               17.8     57.8     24.4      6.7
Prices Received for Finished Goods       6.7     64.4     28.9     22.2
Prices Paid for Raw Materials            9.1     52.3     38.6     29.6
Capital Expenditures                    12.5     45.0     42.5     30.0
Volume of New Orders for Exports         5.7     71.4     22.9     17.1
Supplier Delivery Time                   4.9     90.2      4.9      0.0
INDUSTRY BUSINESS ACTIVITY              11.4     45.5     43.2     31.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
February 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              35.6     13.3     51.1     15.6
Volume of Shipments                     37.8     15.6     46.7      8.9
Volume of New Orders                    26.7     24.4     48.9     22.2
Backlog of Orders                       32.5     45.0     22.5    -10.0
Materials Inventories                   25.0     40.9     34.1      9.1
Finished Goods Inventories              27.9     37.2     34.9      7.0
Number of Employees                     31.8     31.8     36.4      4.6
Average Employee Workweek               17.8     51.1     31.1     13.3
Prices Received for Finished Goods      36.4     40.9     22.7    -13.6
Prices Paid for Raw Materials           38.6     38.6     22.7    -15.9
Capital Expenditures                    20.5     38.5     41.0     20.5
Volume of New Orders for Exports        17.1     62.9     20.0      2.9
Supplier Delivery Time                   9.5     85.7      4.8      4.8
INDUSTRY BUSINESS ACTIVITY              33.3     24.4     42.2      8.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.4     46.3     40.2     26.8
Volume of Shipments                     17.3     39.5     43.2     25.9
Volume of New Orders                    17.1     42.7     40.2     23.2
Backlog of Orders                       16.7     60.3     23.1      6.4
Materials Inventories                    9.9     71.6     18.5      8.6
Finished Goods Inventories              15.0     57.5     27.5     12.5
Number of Employees                     15.9     63.4     20.7      4.9
Average Employee Workweek               19.5     61.0     19.5      0.0
Prices Received for Finished Goods      15.9     70.7     13.4     -2.4
Prices Paid for Raw Materials           13.9     68.4     17.7      3.8
Volume of New Orders for Exports        10.3     79.3     10.3      0.0
Supplier Delivery Time                   2.7     96.0      1.3      1.3
INDUSTRY BUSINESS ACTIVITY              20.7     46.3     32.9     12.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               9.9     32.1     58.0     48.2
Volume of Shipments                     12.2     24.4     63.4     51.2
Volume of New Orders                    13.4     32.9     53.7     40.2
Backlog of Orders                       13.0     58.4     28.6     15.6
Materials Inventories                   13.8     65.0     21.3      7.5
Finished Goods Inventories              21.3     61.3     17.5     -3.8
Number of Employees                     15.9     48.8     35.4     19.5
Average Employee Workweek               17.3     56.8     25.9      8.6
Prices Received for Finished Goods      19.8     50.6     29.6      9.9
Prices Paid for Raw Materials           14.8     51.9     33.3     18.5
Capital Expenditures                    22.4     50.0     27.6      5.3
Volume of New Orders for Exports        11.3     58.1     30.6     19.4
Supplier Delivery Time                   0.0     95.9      4.1     -4.1
INDUSTRY BUSINESS ACTIVITY              12.2     34.1     53.7     41.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
January 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.2     22.2     50.6     23.5
Volume of Shipments                     34.1     18.3     47.6     13.4
Volume of New Orders                    26.8     20.7     52.4     25.6
Backlog of Orders                       29.5     38.5     32.1      2.6
Materials Inventories                   22.2     51.9     25.9      3.7
Finished Goods Inventories              25.0     43.8     31.3      6.3
Number of Employees                     25.6     34.1     40.2     14.6
Average Employee Workweek               14.6     57.3     28.0     13.4
Prices Received for Finished Goods      26.8     45.1     28.0      1.2
Prices Paid for Raw Materials           35.8     33.3     30.9     -4.9
Capital Expenditures                    18.4     53.9     27.6      9.2
Volume of New Orders for Exports        16.4     63.9     19.7      3.3
Supplier Delivery Time                   9.3     81.3      9.3      0.0
INDUSTRY BUSINESS ACTIVITY              28.0     22.0     50.0     22.0