Southeastern Manufacturing Survey - March 2000 (February data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
FEBRUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              27.9    43.0    29.1    1.2
Volume of Shipments                     32.7    31.5    35.8    3.0
Volume of New Orders                    30.5    33.8    35.7    5.3
Backlog of Orders                       23.9    52.3    23.8    0.0
Materials Inventories                   27.5    56.9    15.6    -11.9
Finished Goods Inventories              24.3    48.4    27.2    2.9
Number of Employees                     14.6    67.9    17.5    2.9
Average Employee Workweek               15.1    71.5    13.4    -1.8
Prices Received for Finished Goods      13.0    70.6    16.4    3.4
Prices Paid for Raw Materials           3.1     62.4    34.6    31.5
Volume of New Orders for Exports*       3.0     86.4    10.6    7.6
Supplier Delivery Time*                 5.2     89.6    5.2     0.0
INDUSTRY BUSINESS ACTIVITY              25.4    50.6    24.0    -1.4

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
FEBRUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              19.9    27.1    53.1    33.2
Volume of Shipments                     21.3    25.1    53.7    32.4
Volume of New Orders                    15.3    31.5    53.2    37.9
Backlog of Orders                       24.0    58.0    18.0    -6.0
Materials Inventories                   29.6    60.7    9.7     -19.9
Finished Goods Inventories*             26.9    59.0    14.1    -12.8
Number of Employees                     17.2    64.7    18.1    0.9
Average Employee Workweek               19.2    69.3    11.5    -7.7
Prices Received for Finished Goods      11.1    47.3    41.5    30.4
Prices Paid for Raw Materials           10.3    37.8    51.9    41.6
Capital Expenditures*                   17.6    50.0    32.4    14.9
Volume of New Orders for Exports*       6.1     74.2    19.7    13.6
Supplier Delivery Time*                 3.9     90.9    5.2     -1.3
INDUSTRY BUSINESS ACTIVITY              28.4    27.0    44.7    16.3

* 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                              28.8    36.6    34.7    5.9
Volume of Shipments                     20.5    40.5    39.1    18.6
Volume of New Orders                    23.5    39.1    37.4    13.9
Backlog of Orders                       29.9    44.4    25.7    -4.2
Materials Inventories                   19.9    40.1    40.1    20.2
Finished Goods Inventories              27.2    35.0    37.8    10.6
Number of Employees                     25.7    53.6    20.8    -4.9
Average Employee Workweek               13.7    70.6    15.7    2.1
Prices Received for Finished Goods      19.3    76.1    4.6     -14.7
Prices Paid for Raw Materials           4.0     73.6    22.4    18.4
Volume of New Orders for Exports*       10.7    82.1    7.1     -3.6
Supplier Delivery Time*                 0.0     96.8    3.2     -3.2
INDUSTRY BUSINESS ACTIVITY              27.1    41.5    31.3    4.2

* 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                              17.2    24.0    58.8    41.6
Volume of Shipments                     11.3    27.6    61.1    49.8
Volume of New Orders                    10.7    34.4    54.9    44.2
Backlog of Orders                       25.8    47.4    26.9    1.1
Materials Inventories                   37.8    42.7    19.5    -18.3
Finished Goods Inventories*             25.0    46.4    28.6    3.6
Number of Employees                     19.7    50.6    29.7    10.0
Average Employee Workweek               18.5    64.2    17.3    -1.2
Prices Received for Finished Goods      15.2    49.1    35.7    20.5
Prices Paid for Raw Materials           10.6    52.3    37.0    26.4
Capital Expenditures*                   20.0    50.0    30.0    10.0
Volume of New Orders for Exports*       7.1     89.3    3.6     -3.6
Supplier Delivery Time*                 0.0     83.9    16.1    -16.1
INDUSTRY BUSINESS ACTIVITY              18.0    29.6    52.5    34.5

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
FEBRUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              23.8    45.0    31.3    7.5
Volume of Shipments                     24.1    35.4    40.5    16.5
Volume of New Orders                    23.8    37.5    38.8    15.0
Backlog of Orders                       22.1    51.9    26.0    3.9
Materials Inventories                   25.0    58.8    16.3    -8.8
Finished Goods Inventories              21.8    50.0    28.2    6.4
Number of Employees                     12.7    68.4    19.0    6.3
Average Employee Workweek               12.5    71.3    16.3    3.8
Prices Received for Finished Goods      11.3    71.3    17.5    6.3
Prices Paid for Raw Materials           6.3     60.0    33.8    27.5
Volume of New Orders for Exports        3.0     86.4    10.6    7.6
Supplier Delivery Time                  5.2     89.6    5.2     0.0
INDUSTRY BUSINESS ACTIVITY              23.1    51.3    25.6    2.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
FEBRUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              16.3    26.3    57.5    41.3
Volume of Shipments                     17.5    23.8    58.8    41.3
Volume of New Orders                    12.5    31.3    56.3    43.8
Backlog of Orders                       19.7    59.2    21.1    1.3
Materials Inventories                   28.8    61.3    10.0    -18.8
Finished Goods Inventories              26.9    59.0    14.1    -12.8
Number of Employees                     16.7    62.8    20.5    3.8
Average Employee Workweek               16.3    68.8    15.0    -1.3
Prices Received for Finished Goods      8.8     50.0    41.3    32.5
Prices Paid for Raw Materials           11.4    35.4    53.2    41.8
Capital Expenditures                    17.6    50.0    32.4    14.9
Volume of New Orders for Exports        6.1     74.2    19.7    13.6
Supplier Delivery Time                  3.9     90.9    5.2     -1.3
INDUSTRY BUSINESS ACTIVITY              21.3    25.3    53.3    32.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
FEBRUARY 2000

                                     Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase Index
Production                              27.5    13.8    58.8    31.3
Volume of Shipments                     25.0    17.5    57.5    32.5
Volume of New Orders                    22.5    21.3    56.3    33.8
Backlog of Orders                       22.1    42.9    35.1    13.0
Materials Inventories                   18.8    47.5    33.8    15.0
Finished Goods Inventories              25.6    38.5    35.9    10.3
Number of Employees                     31.6    31.6    36.7    5.1
Average Employee Workweek               16.3    55.0    28.8    12.5
Prices Received for Finished Goods      21.3    40.0    38.8    17.5
Prices Paid for Raw Materials           8.8     30.0    61.3    52.5
Capital Expenditures                    22.4    46.1    31.6    9.2
Volume of New Orders for Exports        4.5     72.7    22.7    18.2
Supplier Delivery Time                  9.1     83.1    7.8     1.3
INDUSTRY BUSINESS ACTIVITY              32.9    18.4    48.7    15.8



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                              25.0    34.4    40.6    15.6
Volume of Shipments                     18.8    37.5    43.8    25.0
Volume of New Orders                    18.8    40.6    40.6    21.9
Backlog of Orders                       25.8    48.4    25.8    0.0
Materials Inventories                   16.1    41.9    41.9    25.8
Finished Goods Inventories              25.8    32.3    41.9    16.1
Number of Employees                     25.8    51.6    22.6    -3.2
Average Employee Workweek               15.6    65.6    18.8    3.1
Prices Received for Finished Goods      19.4    74.2    6.5     -12.9
Prices Paid for Raw Materials           3.1     68.8    28.1    25.0
Volume of New Orders for Exports        10.7    82.1    7.1     -3.6
Supplier Delivery Time                  0.0     96.8    3.2     -3.2
INDUSTRY BUSINESS ACTIVITY              28.1    37.5    34.4    6.3



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                              13.3    20.0    66.7    53.3
Volume of Shipments                     6.5     22.6    71.0    64.5
Volume of New Orders                    6.7     30.0    63.3    56.7
Backlog of Orders                       20.7    48.3    31.0    10.3
Materials Inventories                   34.5    41.4    24.1    -10.3
Finished Goods Inventories              25.0    46.4    28.6    3.6
Number of Employees                     17.2    48.3    34.5    17.2
Average Employee Workweek               16.1    61.3    22.6    6.5
Prices Received for Finished Goods      16.7    46.7    36.7    20.0
Prices Paid for Raw Materials           9.7     51.6    38.7    29.0
Capital Expenditures                    20.0    50.0    30.0    10.0
Volume of New Orders for Exports        7.1     89.3    3.6     -3.6
Supplier Delivery Time                  0.0     83.9    16.1    -16.1
INDUSTRY BUSINESS ACTIVITY              12.9    25.8    61.3    48.4



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                              15.6    15.6    68.8    53.1
Volume of Shipments                     18.8    18.8    62.5    43.8
Volume of New Orders                    16.1    29.0    54.8    38.7
Backlog of Orders                       16.7    43.3    40.0    23.3
Materials Inventories                   6.7     46.7    46.7    40.0
Finished Goods Inventories              17.2    34.5    48.3    31.0
Number of Employees                     38.7    25.8    35.5    -3.2
Average Employee Workweek               12.5    59.4    28.1    15.6
Prices Received for Finished Goods      29.0    38.7    32.3    3.2
Prices Paid for Raw Materials           12.5    34.4    53.1    40.6
Capital Expenditures                    16.1    48.4    35.5    19.4
Volume of New Orders for Exports        14.3    78.6    7.1     -7.1
Supplier Delivery Time                  9.4     81.3    9.4     0.0
INDUSTRY BUSINESS ACTIVITY              29.0    19.4    51.6    22.6