Southeastern Manufacturing Survey - May 1999 (April data)

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                              18.7     39.1     42.2     23.5
Volume of Shipments                     23.1     41.2     35.7     12.7
Volume of New Orders                    18.8     44.7     36.5     17.7
Backlog of Orders                       17.5     59.4     23.1      5.6
Materials Inventories                   19.8     71.3      8.9    -10.9
Finished Goods Inventories              22.4     63.2     14.4     -8.1
Number of Employees                     12.8     70.2     17.1      4.3
Average Employee Workweek               11.7     68.8     19.5      7.9
Prices Received for Finished Goods*     14.9     63.5     21.6      6.8
Prices Paid for Raw Materials*          16.4     60.3     23.3      6.9
Volume of New Orders for Exports*        9.1     80.0     10.9      1.8
Supplier Delivery Time*                  6.2     93.8      0.0      6.2
INDUSTRY BUSINESS ACTIVITY              17.8     50.7     31.5     13.7

*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                              14.4     33.9     51.7     37.3
Volume of Shipments                     16.0     30.7     53.4     37.4
Volume of New Orders                    16.1     33.1     50.8     34.7
Backlog of Orders                       25.1     46.8     28.1      3.0
Materials Inventories                   18.9     69.7     11.3     -7.6
Finished Goods Inventories              22.3     59.9     17.8     -4.5
Number of Employees                     21.9     54.3     23.9      2.0
Average Employee Workweek               23.4     59.5     17.2     -6.2
Prices Received for Finished Goods      12.7     56.6     30.7     18.0
Prices Paid for Raw Materials           10.3     51.9     37.9     27.6
Capital Expenditures                    18.7     51.6     29.7     11.1
Volume of New Orders for Exports*       12.1     74.1     13.8      1.7
Supplier Delivery Time*                  4.5     92.4      3.0      1.5
INDUSTRY BUSINESS ACTIVITY              18.9     37.0     44.1     25.2

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.1     31.5     48.4     28.3
Volume of Shipments                     20.5     30.9     48.6     28.1
Volume of New Orders                    20.6     40.5     38.9     18.3
Backlog of Orders                       18.1     53.9     28.0      9.9
Materials Inventories                   17.0     66.6     16.4     -0.7
Finished Goods Inventories              27.4     54.8     17.9     -9.5
Number of Employees                     12.5     64.6     22.9     10.3
Average Employee Workweek               11.5     69.6     19.0      7.5
Prices Received for Finished Goods*     14.6     76.4      9.0     -5.6
Prices Paid for Raw Materials*          18.0     66.3     15.7     -2.3
Volume of New Orders for Exports*        7.6     80.3     12.1      4.6
Supplier Delivery Time*                  3.5     94.1      2.4      1.2
INDUSTRY BUSINESS ACTIVITY              14.5     57.0     28.6     14.1

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              14.5     37.5     48.1     33.6
Volume of Shipments                     15.8     34.2     50.0     34.3
Volume of New Orders                    15.4     39.4     45.2     29.7
Backlog of Orders                       21.6     56.8     21.6      0.0
Materials Inventories                   15.2     68.3     16.5      1.4
Finished Goods Inventories              22.9     57.1     20.0     -2.9
Number of Employees                     19.0     50.2     30.8     11.8
Average Employee Workweek               18.0     60.8     21.2      3.3
Prices Received for Finished Goods      12.8     57.7     29.6     16.9
Prices Paid for Raw Materials           16.8     52.7     30.6     13.8
Capital Expenditures                    19.2     48.1     32.7     13.5
Volume of New Orders for Exports*        8.5     76.1     15.5      7.0
Supplier Delivery Time*                  2.4     95.2      2.4      0.0
INDUSTRY BUSINESS ACTIVITY              15.5     43.1     41.4     25.9

*Not Seasonally Adjusted

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                              15.1     35.6     49.3     34.3
Volume of Shipments                     19.2     41.1     39.7     20.6
Volume of New Orders                    17.8     42.5     39.7     21.9
Backlog of Orders                       15.9     59.4     24.6      8.7
Materials Inventories                   17.8     74.0      8.2     -9.6
Finished Goods Inventories              20.3     63.8     15.9     -4.4
Number of Employees                     10.8     73.0     16.2      5.4
Average Employee Workweek                9.5     70.3     20.3     10.8
Prices Received for Finished Goods      14.9     63.5     21.6      6.8
Prices Paid for Raw Materials           16.4     60.3     23.3      6.9
Volume of New Orders for Exports         9.1     80.0     10.9      1.8
Supplier Delivery Time                   6.2     93.8      0.0      6.2
INDUSTRY BUSINESS ACTIVITY              12.5     48.6     38.9     26.4



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                              15.1     37.0     47.9     32.9
Volume of Shipments                     16.4     32.9     50.7     34.3
Volume of New Orders                    17.6     35.1     47.3     29.7
Backlog of Orders                       27.5     47.8     24.6     -2.9
Materials Inventories                   18.1     73.6      8.3     -9.7
Finished Goods Inventories              24.3     58.6     17.1     -7.1
Number of Employees                     21.6     54.1     24.3      2.7
Average Employee Workweek               21.9     61.6     16.4     -5.5
Prices Received for Finished Goods      11.0     58.9     30.1     19.2
Prices Paid for Raw Materials           11.0     54.8     34.2     23.3
Capital Expenditures                    18.6     52.9     28.6     10.0
Volume of New Orders for Exports        12.1     74.1     13.8      1.7
Supplier Delivery Time                   4.5     92.4      3.0      1.5
INDUSTRY BUSINESS ACTIVITY              18.2     39.4     42.4     24.2



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                              26.0     21.9     52.1     26.0
Volume of Shipments                     27.0     23.0     50.0     23.0
Volume of New Orders                    24.3     28.4     47.3     23.0
Backlog of Orders                       27.5     39.1     33.3      5.8
Materials Inventories                   24.7     47.9     27.4      2.7
Finished Goods Inventories              24.3     42.9     32.9      8.6
Number of Employees                     25.7     37.8     36.5     10.8
Average Employee Workweek               12.2     58.1     29.7     17.6
Prices Received for Finished Goods      27.0     43.2     29.7      2.7
Prices Paid for Raw Materials           31.5     38.4     30.1     -1.4
Capital Expenditures                    21.1     45.1     33.8     12.7
Volume of New Orders for Exports        15.8     71.9     12.3     -3.5
Supplier Delivery Time                   4.5     92.5      3.0      1.5
INDUSTRY BUSINESS ACTIVITY              27.5     34.8     37.7     10.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.1     34.4     54.4     43.3
Volume of Shipments                      9.0     31.5     59.6     50.6
Volume of New Orders                    14.4     40.0     45.6     31.1
Backlog of Orders                       13.3     54.2     32.5     19.3
Materials Inventories                   17.0     65.9     17.0      0.0
Finished Goods Inventories              24.7     52.9     22.4     -2.4
Number of Employees                     10.0     64.4     25.6     15.6
Average Employee Workweek                7.8     72.2     20.0     12.2
Prices Received for Finished Goods      14.6     76.4      9.0     -5.6
Prices Paid for Raw Materials           18.0     66.3     15.7     -2.3
Volume of New Orders for Exports         7.6     80.3     12.1      4.6
Supplier Delivery Time                   3.5     94.1      2.4      1.2
INDUSTRY BUSINESS ACTIVITY               9.1     55.7     35.2     26.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.6     34.4     50.0     34.4
Volume of Shipments                     15.6     31.1     53.3     37.8
Volume of New Orders                    16.7     38.9     44.4     27.8
Backlog of Orders                       24.1     53.0     22.9     -1.2
Materials Inventories                   18.2     65.9     15.9     -2.3
Finished Goods Inventories              25.9     55.3     18.8     -7.1
Number of Employees                     20.0     48.9     31.1     11.1
Average Employee Workweek               18.0     58.4     23.6      5.6
Prices Received for Finished Goods      12.4     58.4     29.2     16.9
Prices Paid for Raw Materials           15.7     56.2     28.1     12.4
Capital Expenditures                    20.0     47.1     32.9     12.9
Volume of New Orders for Exports         8.5     76.1     15.5      7.0
Supplier Delivery Time                   2.4     95.2      2.4      0.0
INDUSTRY BUSINESS ACTIVITY              14.6     39.3     46.1     31.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
March 1999

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.8     23.3     48.9     21.1
Volume of Shipments                     28.9     20.0     51.1     22.2
Volume of New Orders                    28.9     23.3     47.8     18.9
Backlog of Orders                       31.7     37.8     30.5     -1.2
Materials Inventories                   19.3     54.5     26.1      6.8
Finished Goods Inventories              20.0     45.9     34.1     14.1
Number of Employees                     23.3     43.3     33.3     10.0
Average Employee Workweek               15.6     58.9     25.6     10.0
Prices Received for Finished Goods      33.7     41.6     24.7     -9.0
Prices Paid for Raw Materials           37.5     33.0     29.5     -8.0
Capital Expenditures                    25.9     42.4     31.8      5.9
Volume of New Orders for Exports        18.3     64.8     16.9     -1.4
Supplier Delivery Time                   4.8     89.2      6.0     -1.2
INDUSTRY BUSINESS ACTIVITY              25.8     23.6     50.6     24.7