Southeastern Manufacturing Survey - May 1996 (April data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
APR96

                                       Percent  Percent  Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.2%    44.5%    33.3%    11.1
Volume of Shipments                     27.2%    35.6%    37.2%     9.9
Volume of New Orders                    28.1%    37.6%    34.2%     6.1
Backlog of Orders                       26.9%    52.0%    21.1%    -5.7
Materials Inventories                   27.5%    54.1%    18.4%    -9.1
Finished Goods Inventories              29.7%    46.0%    24.3%    -5.4
Number of Employees                     16.9%    69.7%    13.4%    -3.5
Average Employee Workweek               13.0%    72.4%    14.5%     1.5
Prices Received for Finished Goods      18.8%    71.4%     9.8%    -8.9
Prices Paid for Raw Materials           11.5%    62.8%    25.7%    14.2
Volume of New Orders for Exports        15.4%    70.1%    14.5%    -0.9
Supplier Delivery Time                  10.3%    83.2%     6.5%     3.7
INDUSTRY BUSINESS ACTIVITY              23.9%    52.6%    23.5%    -0.4

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.6%    34.4%    43.0%    20.3
Volume of Shipments                     23.1%    27.8%    49.1%    26.0
Volume of New Orders                    18.9%    35.8%    45.3%    26.4
Backlog of Orders                       23.3%    54.3%    22.4%    -0.9
Materials Inventories                   30.7%    53.1%    16.2%   -14.5
Finished Goods Inventories              34.9%    43.7%    21.4%   -13.5
Number of Employees                     29.0%    50.8%    20.2%    -8.8
Average Employee Workweek               14.5%    67.3%    18.2%     3.7
Prices Received for Finished Goods      16.8%    54.8%    28.4%    11.6
Prices Paid for Raw Materials           18.2%    42.5%    39.2%    21.0
Capital Expenditures                    14.5%    53.3%    32.3%    17.8
Volume of New Orders for Exports        10.2%    59.1%    30.7%    20.5
Supplier Delivery Time                   6.3%    83.8%     9.4%    -3.1
INDUSTRY BUSINESS ACTIVITY              23.6%    34.5%    41.9%    18.3

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              30.8%    42.4%    26.8%    -4.0
Volume of Shipments                     28.9%    40.1%    31.0%     2.1
Volume of New Orders                    32.0%    40.7%    27.3%    -4.8
Backlog of Orders                       32.1%    46.7%    21.3%   -10.8
Materials Inventories                   23.2%    49.9%    26.9%     3.7
Finished Goods Inventories              28.0%    40.4%    31.6%     3.6
Number of Employees                     20.3%    61.9%    17.8%    -2.5
Average Employee Workweek               17.6%    66.9%    15.4%    -2.2
Prices Received for Finished Goods      20.0%    74.1%     5.9%   -14.1
Prices Paid for Raw Materials           16.5%    68.5%    15.0%    -1.5
Volume of New Orders for Exports        14.2%    80.3%     5.5%    -8.6
Supplier Delivery Time                   7.9%    84.3%     7.9%     0.0
INDUSTRY BUSINESS ACTIVITY              30.0%    46.0%    24.0%    -6.1

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.8%    29.0%    52.2%    33.4
Volume of Shipments                     20.1%    24.5%    55.4%    35.3
Volume of New Orders                    19.2%    33.4%    47.4%    28.2
Backlog of Orders                       21.2%    48.3%    30.5%     9.3
Materials Inventories                   27.2%    55.8%    17.0%   -10.2
Finished Goods Inventories              35.3%    44.7%    19.9%   -15.4
Number of Employees                     24.6%    56.5%    18.9%    -5.7
Average Employee Workweek               16.1%    65.5%    18.4%     2.3
Prices Received for Finished Goods      20.1%    53.6%    26.3%     6.2
Prices Paid for Raw Materials           18.6%    49.2%    32.2%    13.6
Capital Expenditures                    16.8%    52.7%    30.6%    13.8
Volume of New Orders for Exports        10.8%    63.1%    26.1%    15.3
Supplier Delivery Time                   8.8%    78.8%    13.8%    -5.0
INDUSTRY BUSINESS ACTIVITY              21.9%    30.3%    47.9%    26.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.4%    47.3%    31.3%     9.8
Volume of Shipments                     27.4%    38.1%    34.5%     7.1
Volume of New Orders                    31.0%    38.1%    31.0%     0.0
Backlog of Orders                       26.2%    52.3%    21.5%    -4.7
Materials Inventories                   24.3%    55.0%    20.7%    -3.6
Finished Goods Inventories              26.9%    45.4%    27.8%     0.9
Number of Employees                     16.8%    69.0%    14.2%    -2.7
Average Employee Workweek               12.4%    70.8%    16.8%     4.4
Prices Received for Finished Goods      18.8%    71.4%     9.8%    -8.9
Prices Paid for Raw Materials           12.5%    62.5%    25.0%    12.5
Volume of New Orders for Exports        15.5%    69.0%    15.5%     0.0
Supplier Delivery Time                  10.3%    83.2%     6.5%     3.7
INDUSTRY BUSINESS ACTIVITY              21.6%    52.3%    26.1%     4.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.7%    36.0%    43.2%    22.5
Volume of Shipments                     21.6%    31.5%    46.8%    25.2
Volume of New Orders                    18.2%    39.1%    42.7%    24.6
Backlog of Orders                       23.1%    55.8%    21.2%    -1.9
Materials Inventories                   28.0%    56.1%    15.9%   -12.1
Finished Goods Inventories              34.6%    45.8%    19.6%   -15.0
Number of Employees                     28.8%    52.3%    18.9%    -9.9
Average Employee Workweek               14.4%    69.4%    16.2%     1.8
Prices Received for Finished Goods      14.5%    60.0%    25.5%    10.9
Prices Paid for Raw Materials           19.1%    47.3%    33.6%    14.6
Capital Expenditures                    13.6%    57.3%    29.1%    15.5
Volume of New Orders for Exports        10.2%    59.1%    30.7%    20.5
Supplier Delivery Time                   5.9%    84.3%     9.8%    -3.9
INDUSTRY BUSINESS ACTIVITY              21.1%    41.3%    37.6%    16.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
APR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              33.9%    20.5%    45.5%    11.6
Volume of Shipments                     35.4%    17.7%    46.9%    11.5
Volume of New Orders                    36.6%    28.6%    34.8%    -1.8
Backlog of Orders                       41.1%    31.8%    27.1%   -14.0
Materials Inventories                   31.8%    40.9%    27.3%    -4.6
Finished Goods Inventories              34.9%    34.9%    30.3%    -4.6
Number of Employees                     40.0%    34.5%    25.5%   -14.5
Average Employee Workweek               23.6%    53.6%    22.7%    -0.9
Prices Received for Finished Goods      30.3%    34.9%    34.9%     4.6
Prices Paid for Raw Materials           19.3%    22.0%    58.7%    39.5
Capital Expenditures                    24.8%    45.5%    29.7%     5.0
Volume of New Orders for Exports        20.2%    49.4%    30.3%    10.1
Supplier Delivery Time                  12.5%    70.2%    17.3%    -4.8
INDUSTRY BUSINESS ACTIVITY              42.2%    26.6%    31.2%   -11.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              23.7%    39.3%    37.0%    13.3
Volume of Shipments                     21.6%    37.3%    41.0%    19.4
Volume of New Orders                    25.9%    41.5%    32.6%     6.7
Backlog of Orders                       26.9%    46.9%    26.2%    -0.8
Materials Inventories                   20.0%    52.6%    27.4%     7.4
Finished Goods Inventories              23.7%    41.2%    35.1%    11.5
Number of Employees                     19.5%    62.4%    18.0%    -1.5
Average Employee Workweek               15.7%    67.9%    16.4%     0.8
Prices Received for Finished Goods      20.0%    74.1%     5.9%   -14.1
Prices Paid for Raw Materials           15.0%    69.2%    15.8%     0.8
Volume of New Orders for Exports        13.9%    76.2%     9.9%    -4.0
Supplier Delivery Time                   7.9%    84.3%     7.9%     0.0
INDUSTRY BUSINESS ACTIVITY              26.1%    42.5%    31.3%     5.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              18.2%    31.1%    50.8%    32.6
Volume of Shipments                     19.7%    25.8%    54.5%    34.9
Volume of New Orders                    18.9%    31.8%    49.2%    30.3
Backlog of Orders                       21.4%    48.4%    30.2%     8.7
Materials Inventories                   29.0%    56.5%    14.5%   -14.5
Finished Goods Inventories              37.5%    44.5%    18.0%   -19.5
Number of Employees                     25.0%    56.1%    18.9%    -6.1
Average Employee Workweek               17.4%    64.4%    18.2%     0.8
Prices Received for Finished Goods      20.5%    53.8%    25.8%     5.3
Prices Paid for Raw Materials           18.3%    53.4%    28.2%     9.9
Capital Expenditures                    18.0%    53.1%    28.9%    10.9
Volume of New Orders for Exports        10.8%    63.1%    26.1%    15.3
Supplier Delivery Time                   8.8%    80.0%    11.2%    -2.4
INDUSTRY BUSINESS ACTIVITY              20.0%    32.3%    47.7%    27.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
MAR96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              44.0%    15.7%    40.3%    -3.7
Volume of Shipments                     45.5%    13.4%    41.0%    -4.5
Volume of New Orders                    43.3%    18.7%    38.1%    -5.2
Backlog of Orders                       39.5%    32.6%    27.9%   -11.6
Materials Inventories                   30.8%    37.6%    31.6%     0.8
Finished Goods Inventories              30.0%    35.4%    34.6%     4.6
Number of Employees                     37.3%    36.6%    26.1%   -11.2
Average Employee Workweek               25.6%    57.9%    16.5%    -9.0
Prices Received for Finished Goods      28.4%    30.6%    41.0%    12.7
Prices Paid for Raw Materials           18.8%    20.3%    60.9%    42.1
Capital Expenditures                    26.0%    44.9%    29.1%     3.2
Volume of New Orders for Exports        17.1%    58.6%    24.3%     7.2
Supplier Delivery Time                  13.3%    65.6%    21.1%    -7.8
INDUSTRY BUSINESS ACTIVITY              43.8%    20.8%    35.4%    -8.5