Southeastern Manufacturing Survey - November 1997 (October data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
October 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.5     42.8     36.7     16.2
Volume of Shipments                     25.3     39.7     35.0      9.7
Volume of New Orders                    20.7     41.5     37.7     17.0
Backlog of Orders                       18.2     52.3     29.5     11.4
Materials Inventories                   15.2     60.1     24.7      9.5
Finished Goods Inventories              19.7     50.3     30.0     10.3
Number of Employees                     12.3     69.3     18.4      6.1
Average Employee Workweek               16.1     68.5     15.4     -0.7
Prices Received for Finished Goods*     12.0     74.0     14.0      2.0
Prices Paid for Raw Materials            7.5     69.2     23.4     15.9
Volume of New Orders for Exports*       11.5     75.6     12.8      1.3
Supplier Delivery Time*                  7.8     88.9      3.3      4.4
INDUSTRY BUSINESS ACTIVITY              16.7     49.0     34.3     17.7

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
October 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              14.3     38.1     47.6     33.3
Volume of Shipments                     14.2     37.8     48.0     33.8
Volume of New Orders                    10.8     43.7     45.5     34.7
Backlog of Orders                       14.6     55.5     30.0     15.4
Materials Inventories                   26.8     51.5     21.7     -5.2
Finished Goods Inventories              28.6     46.4     25.0     -3.6
Number of Employees                     16.6     59.2     24.2      7.6
Average Employee Workweek               15.4     72.9     11.7     -3.7
Prices Received for Finished Goods       7.6     65.0     27.4     19.8
Prices Paid for Raw Materials            8.2     58.7     33.2     25.0
Capital Expenditures                    14.2     48.6     37.3     23.1
Volume of New Orders for Exports*        5.1     62.8     32.1     26.9
Supplier Delivery Time*                  6.7     85.6      7.8     -1.1
INDUSTRY BUSINESS ACTIVITY              16.3     43.9     39.8     23.5

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
September 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.3     41.3     37.3     16.0
Volume of Shipments                     21.1     39.7     39.3     18.2
Volume of New Orders                    18.8     44.6     36.6     17.8
Backlog of Orders                       19.9     54.1     26.0      6.1
Materials Inventories                   19.0     54.0     27.0      8.0
Finished Goods Inventories              18.6     50.9     30.5     11.9
Number of Employees                     14.1     66.2     19.7      5.6
Average Employee Workweek               13.6     73.3     13.1     -0.5
Prices Received for Finished Goods*     16.3     74.0      9.6     -6.7
Prices Paid for Raw Materials            9.0     69.8     21.2     12.2
Volume of New Orders for Exports*        6.2     76.5     17.3     11.1
Supplier Delivery Time*                  9.7     89.3      1.0      8.7
INDUSTRY BUSINESS ACTIVITY              23.0     44.5     32.5      9.5

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
September 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               9.9     36.9     53.3     43.4
Volume of Shipments                     11.6     36.4     52.0     40.4
Volume of New Orders                    10.4     41.3     48.3     37.9
Backlog of Orders                       12.2     56.7     31.2     19.0
Materials Inventories                   25.1     55.7     19.2     -5.9
Finished Goods Inventories              27.4     49.7     22.9     -4.6
Number of Employees                     16.4     57.9     25.7      9.3
Average Employee Workweek               11.4     72.5     16.1      4.8
Prices Received for Finished Goods       9.1     59.4     31.5     22.4
Prices Paid for Raw Materials           10.1     55.6     34.3     24.2
Capital Expenditures                    14.7     47.1     38.2     23.5
Volume of New Orders for Exports*        2.4     69.0     28.6     26.2
Supplier Delivery Time*                  6.1     86.9      7.1     -1.0
INDUSTRY BUSINESS ACTIVITY              12.4     42.4     45.2     32.8

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
October 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.0     46.0     32.0     10.0
Volume of Shipments                     29.0     42.0     29.0      0.0
Volume of New Orders                    23.2     42.4     34.3     11.1
Backlog of Orders                       20.4     52.7     26.9      6.5
Materials Inventories                   16.7     60.4     22.9      6.3
Finished Goods Inventories              18.1     52.1     29.8     11.7
Number of Employees                     14.1     70.7     15.2      1.0
Average Employee Workweek               18.0     69.0     13.0     -5.0
Prices Received for Finished Goods      12.0     74.0     14.0      2.0
Prices Paid for Raw Materials            6.1     69.7     24.2     18.2
Volume of New Orders for Exports        11.5     75.6     12.8      1.3
Supplier Delivery Time                   7.8     88.9      3.3      4.4
INDUSTRY BUSINESS ACTIVITY              17.0     55.0     28.0     11.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
October 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.1     39.4     49.5     38.4
Volume of Shipments                     10.1     41.4     48.5     38.4
Volume of New Orders                     8.2     44.9     46.9     38.8
Backlog of Orders                       12.9     53.8     33.3     20.4
Materials Inventories                   25.0     54.2     20.8     -4.2
Finished Goods Inventories              25.5     52.1     22.3     -3.2
Number of Employees                     17.2     58.6     24.2      7.1
Average Employee Workweek               13.0     73.0     14.0      1.0
Prices Received for Finished Goods       9.0     60.0     31.0     22.0
Prices Paid for Raw Materials            8.1     54.5     37.4     29.3
Capital Expenditures                    14.6     46.9     38.5     24.0
Volume of New Orders for Exports         5.1     62.8     32.1     26.9
Supplier Delivery Time                   6.7     85.6      7.8     -1.1
INDUSTRY BUSINESS ACTIVITY              12.1     47.5     40.4     28.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
October 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.0     26.0     46.0     18.0
Volume of Shipments                     29.0     25.0     46.0     17.0
Volume of New Orders                    25.3     35.4     39.4     14.1
Backlog of Orders                       29.3     38.0     32.6      3.3
Materials Inventories                   27.1     43.8     29.2      2.1
Finished Goods Inventories              28.0     39.8     32.3      4.3
Number of Employees                     30.3     38.4     31.3      1.0
Average Employee Workweek               23.0     60.0     17.0     -6.0
Prices Received for Finished Goods      21.0     41.0     38.0     17.0
Prices Paid for Raw Materials           20.2     30.3     49.5     29.3
Capital Expenditures                    15.8     47.4     36.8     21.1
Volume of New Orders for Exports        12.8     69.2     17.9      5.1
Supplier Delivery Time                  12.1     80.2      7.7      4.4
INDUSTRY BUSINESS ACTIVITY              19.0     28.0     53.0     34.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
September 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.4     41.1     36.4     14.0
Volume of Shipments                     19.8     40.6     39.6     19.8
Volume of New Orders                    17.8     44.9     37.4     19.6
Backlog of Orders                       22.8     50.5     26.7      4.0
Materials Inventories                   17.1     56.2     26.7      9.5
Finished Goods Inventories              18.8     51.5     29.7     10.9
Number of Employees                     15.9     61.7     22.4      6.5
Average Employee Workweek               15.0     71.0     14.0     -0.9
Prices Received for Finished Goods      16.3     74.0      9.6     -6.7
Prices Paid for Raw Materials           10.3     71.0     18.7      8.4
Volume of New Orders for Exports         6.2     76.5     17.3     11.1
Supplier Delivery Time                   9.7     89.3      1.0      8.7
INDUSTRY BUSINESS ACTIVITY              22.6     47.2     30.2      7.6



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
September 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                               9.4     37.7     52.8     43.4
Volume of Shipments                     11.3     37.7     50.9     39.6
Volume of New Orders                     8.5     47.2     44.3     35.9
Backlog of Orders                       10.1     59.6     30.3     20.2
Materials Inventories                   24.0     57.7     18.3     -5.8
Finished Goods Inventories              24.0     53.0     23.0     -1.0
Number of Employees                     17.0     56.6     26.4      9.4
Average Employee Workweek               12.3     72.6     15.1      2.8
Prices Received for Finished Goods       9.7     56.3     34.0     24.3
Prices Paid for Raw Materials            9.6     54.8     35.6     26.0
Capital Expenditures                    14.6     45.6     39.8     25.2
Volume of New Orders for Exports         2.4     69.0     28.6     26.2
Supplier Delivery Time                   6.1     86.9      7.1     -1.0
INDUSTRY BUSINESS ACTIVITY              12.4     44.8     42.9     30.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
September 1997

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.4     28.0     49.5     27.1
Volume of Shipments                     26.4     22.6     50.9     24.5
Volume of New Orders                    22.4     28.0     49.5     27.1
Backlog of Orders                       24.8     39.6     35.6     10.9
Materials Inventories                   22.9     45.7     31.4      8.6
Finished Goods Inventories              24.8     39.6     35.6     10.9
Number of Employees                     26.4     34.0     39.6     13.2
Average Employee Workweek               20.6     57.9     21.5      0.9
Prices Received for Finished Goods      23.8     36.2     40.0     16.2
Prices Paid for Raw Materials           24.3     27.1     48.6     24.3
Capital Expenditures                    17.5     46.6     35.9     18.5
Volume of New Orders for Exports         9.4     65.9     24.7     15.3
Supplier Delivery Time                  13.9     79.2      6.9      6.9
INDUSTRY BUSINESS ACTIVITY              25.5     23.6     50.9     25.5