Southeastern Manufacturing Survey - November 1996 (October data)

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
OCT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.5%    53.5%    24.9%     3.4
Volume of Shipments                     26.8%    46.7%    26.5%    -0.3
Volume of New Orders                    28.4%    49.8%    21.8%    -6.6
Backlog of Orders                       28.3%    51.9%    19.7%    -8.6
Materials Inventories                   23.6%    59.3%    17.1%    -6.5
Finished Goods Inventories              26.2%    47.2%    26.6%     0.5
Number of Employees                     15.1%    69.9%    15.0%    -0.1
Average Employee Workweek               12.6%    75.2%    12.2%    -0.5
Prices Received for Finished Goods*     17.7%    76.0%     6.3%   -11.5
Prices Paid for Raw Materials           17.5%    62.3%    20.2%     2.7
Volume of New Orders for Exports         9.3%    73.0%    17.7%     8.4
Supplier Delivery Time*                  6.9%    88.5%     4.6%     2.3
INDUSTRY BUSINESS ACTIVITY              24.7%    60.0%    15.3%    -9.4

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
OCT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.7%    30.8%    51.5%    33.7
Volume of Shipments                     15.8%    33.2%    51.0%    35.2
Volume of New Orders                    16.9%    35.9%    47.2%    30.2
Backlog of Orders                       21.3%    53.7%    25.0%     3.7
Materials Inventories                   19.4%    63.6%    16.9%    -2.5
Finished Goods Inventories              21.3%    61.2%    17.5%    -3.8
Number of Employees                     21.6%    58.6%    19.8%    -1.8
Average Employee Workweek               17.6%    75.4%     7.0%   -10.7
Prices Received for Finished Goods      15.9%    68.3%    15.7%    -0.2
Prices Paid for Raw Materials           14.3%    48.7%    37.0%    22.7
Capital Expenditures                    10.7%    55.1%    34.2%    23.5
Volume of New Orders for Exports*        6.3%    69.6%    24.1%    17.7
Supplier Delivery Time                   5.3%    84.2%    10.7%    -5.4
INDUSTRY BUSINESS ACTIVITY              18.3%    41.4%    40.3%    22.0

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
SEPT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              19.1%    43.3%    37.6%    18.5
Volume of Shipments                     23.2%    38.3%    38.5%    15.3
Volume of New Orders                    24.3%    41.4%    34.3%    10.0
Backlog of Orders                       28.6%    48.1%    23.2%    -5.4
Materials Inventories                   18.0%    61.3%    20.8%     2.8
Finished Goods Inventories              28.1%    48.7%    23.2%    -4.9
Number of Employees                     17.1%    70.2%    12.7%    -4.4
Average Employee Workweek               15.2%    67.6%    17.3%     2.1
Prices Received for Finished Goods*     15.3%    72.9%    11.9%    -3.4
Prices Paidfor Raw Materials            12.3%    69.3%    18.4%     6.0
Volume of New Orders for Exports        11.9%    73.7%    14.4%     2.5
Supplier Delivery Time*                  8.9%    83.9%     7.1%     1.8
INDUSTRY BUSINESS ACTIVITY              22.1%    52.3%    25.5%     3.4

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
SEPT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.5%    40.1%    43.5%    27.0
Volume of Shipments                     18.0%    37.3%    44.7%    26.6
Volume of New Orders                    16.8%    44.2%    39.1%    22.3
Backlog of Orders                       21.1%    59.3%    19.7%    -1.4
Materials Inventories                   21.0%    64.4%    14.6%    -6.4
Finished Goods Inventories              29.3%    52.5%    18.2%   -11.1
Number of Employees                     23.4%    59.7%    16.9%    -6.4
Average Employee Workweek               23.2%    69.1%     7.8%   -15.4
Prices Received for Finished Goods      14.6%    61.7%    23.7%     9.1
Prices Paid for Raw Materials           12.6%    51.7%    35.7%    23.0
Capital Expenditures                    15.1%    53.1%    31.8%    16.8
Volume of New Orders for Exports*        8.2%    73.2%    18.6%    10.3
Supplier Delivery Time                   5.6%    82.3%    11.5%    -5.9
INDUSTRY BUSINESS ACTIVITY              19.9%    45.4%    34.8%    14.9

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
OCT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.9%    53.1%    24.0%     1.0
Volume of Shipments                     26.0%    47.9%    26.0%     0.0
Volume of New Orders                    29.2%    51.0%    19.8%    -9.4
Backlog of Orders                       29.7%    52.7%    17.6%   -12.1
Materials Inventories                   24.4%    60.0%    15.6%    -8.9
Finished Goods Inventories              26.7%    48.8%    24.4%    -2.3
Number of Employees                     16.7%    69.8%    13.5%    -3.1
Average Employee Workweek               13.7%    76.8%     9.5%    -4.2
Prices Received for Finished Goods      17.7%    76.0%     6.3%   -11.5
Prices Paid for Raw Materials           16.8%    62.1%    21.1%     4.2
Volume of New Orders for Exports         9.6%    76.7%    13.7%     4.1
Supplier Delivery Time                   6.9%    88.5%     4.6%     2.3
INDUSTRY BUSINESS ACTIVITY              24.5%    60.6%    14.9%    -9.6

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
OCT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.8%    31.6%    52.6%    36.8
Volume of Shipments                     14.7%    33.7%    51.6%    36.8
Volume of New Orders                    15.8%    36.8%    47.4%    31.6
Backlog of Orders                       20.0%    53.3%    26.7%     6.7
Materials Inventories                   19.8%    63.7%    16.5%    -3.3
Finished Goods Inventories              19.8%    64.0%    16.3%    -3.5
Number of Employees                     21.1%    57.9%    21.1%     0.0
Average Employee Workweek               15.8%    74.7%     9.5%    -6.3
Prices Received for Finished Goods      16.8%    64.2%    18.9%     2.1
Prices Paid for Raw Materials           14.9%    44.7%    40.4%    25.5
Capital Expenditures                    12.4%    52.8%    34.8%    22.5
Volume of New Orders for Exports         6.3%    69.6%    24.1%    17.7
Supplier Delivery Time                   4.9%    82.9%    12.2%    -7.3
INDUSTRY BUSINESS ACTIVITY              16.3%    41.3%    42.4%    26.1

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
OCT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              30.5%    24.2%    45.3%    14.7
Volume of Shipments                     30.2%    24.0%    45.8%    15.6
Volume of New Orders                    36.5%    21.9%    41.7%     5.2
Backlog of Orders                       34.1%    37.4%    28.6%    -5.5
Materials Inventories                   24.4%    43.3%    32.2%     7.8
Finished Goods Inventories              31.8%    40.9%    27.3%    -4.6
Number of Employees                     33.0%    35.1%    31.9%    -1.1
Average Employee Workweek               18.9%    52.6%    28.4%     9.5
Prices Received for Finished Goods      26.3%    32.6%    41.1%    14.7
Prices Paid for Raw Materials           22.1%    28.4%    49.5%    27.4
Capital Expenditures                    21.3%    53.9%    24.7%     3.4
Volume of New Orders for Exports        10.0%    65.0%    25.0%    15.0
Supplier Delivery Time                  10.7%    73.8%    15.5%    -4.8
INDUSTRY BUSINESS ACTIVITY              30.1%    24.7%    45.2%    15.1

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
SEPT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.2%    44.1%    34.7%    13.6
Volume of Shipments                     23.7%    39.8%    36.4%    12.7
Volume of New Orders                    24.6%    40.7%    34.7%    10.2
Backlog of Orders                       31.3%    44.6%    24.1%    -7.1
Materials Inventories                   19.3%    62.3%    18.4%    -0.9
Finished Goods Inventories              31.2%    47.7%    21.1%   -10.1
Number of Employees                     16.9%    67.8%    15.3%    -1.7
Average Employee Workweek               16.9%    64.4%    18.6%     1.7
Prices Received for Finished Goods      15.3%    72.9%    11.9%    -3.4
Prices Paid for Raw Materials           12.7%    70.3%    16.9%     4.2
Volume of New Orders for Exports        10.8%    74.2%    15.1%     4.3
Supplier Delivery Time                   8.9%    83.9%     7.1%     1.8
INDUSTRY BUSINESS ACTIVITY              20.7%    55.2%    24.1%     3.5

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
SEPT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.9%    39.8%    43.2%    26.3
Volume of Shipments                     17.9%    36.8%    45.3%    27.4
Volume of New Orders                    15.4%    45.3%    39.3%    23.9
Backlog of Orders                       20.5%    58.9%    20.5%     0.0
Materials Inventories                   21.2%    62.8%    15.9%    -5.3
Finished Goods Inventories              27.3%    52.7%    20.0%    -7.3
Number of Employees                     22.9%    57.6%    19.5%    -3.4
Average Employee Workweek               22.9%    67.8%     9.3%   -13.6
Prices Received for Finished Goods      15.3%    57.6%    27.1%    11.9
Prices Paid for Raw Materials           12.7%    49.2%    38.1%    25.4
Capital Expenditures                    15.0%    53.1%    31.9%    16.8
Volume of New Orders for Exports         8.2%    73.2%    18.6%    10.3
Supplier Delivery Time                   5.6%    83.2%    11.2%    -5.6
INDUSTRY BUSINESS ACTIVITY              19.8%    45.7%    34.5%    14.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
SEPT96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.2%    22.9%    44.9%    12.7
Volume of Shipments                     34.2%    18.8%    47.0%    12.8
Volume of New Orders                    35.6%    26.3%    38.1%     2.5
Backlog of Orders                       37.5%    35.7%    26.8%   -10.7
Materials Inventories                   27.7%    42.9%    29.5%     1.8
Finished Goods Inventories              32.7%    39.1%    28.2%    -4.6
Number of Employees                     41.5%    31.4%    27.1%   -14.4
Average Employee Workweek               29.7%    47.5%    22.9%    -6.8
Prices Received for Finished Goods      26.3%    33.9%    39.8%    13.6
Prices Paid for Raw Materials           21.6%    21.6%    56.9%    35.3
Capital Expenditures                    25.0%    47.3%    27.7%     2.7
Volume of New Orders for Exports        13.4%    67.0%    19.6%     6.2
Supplier Delivery Time                  17.8%    65.4%    16.8%     0.9
INDUSTRY BUSINESS ACTIVITY              38.6%    21.1%    40.4%     1.8