Southeastern Manufacturing Survey - November 1998 (October data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.8     39.6     32.6      4.7
Volume of Shipments                     30.4     34.4     35.2      4.9
Volume of New Orders                    30.4     39.3     30.3      0.0
Backlog of Orders                       29.6     47.7     22.7     -7.0
Materials Inventories                   18.6     69.8     11.6     -6.9
Finished Goods Inventories              25.2     53.1     21.7     -3.5
Number of Employees                     12.6     72.4     15.0      2.4
Average Employee Workweek               15.7     65.7     18.6      2.9
Prices Received for Finished Goods*     17.5     77.3      5.2    -12.4
Prices Paid for Raw Materials*          22.3     69.1      8.5    -13.8
Volume of New Orders for Exports*       24.7     67.1      8.2    -16.4
Supplier Delivery Time*                 11.0     85.7      3.3      7.7
INDUSTRY BUSINESS ACTIVITY              31.2     41.5     27.3     -3.9

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.4     41.2     43.5     28.1
Volume of Shipments                     20.5     32.9     46.7     26.2
Volume of New Orders                    21.4     35.8     42.9     21.5
Backlog of Orders                       22.9     53.2     23.9      0.9
Materials Inventories                   17.7     61.2     21.1      3.4
Finished Goods Inventories              28.7     45.6     25.7     -3.1
Number of Employees                     12.5     65.5     22.0      9.5
Average Employee Workweek               19.6     62.4     18.0     -1.7
Prices Received for Finished Goods      16.5     60.9     22.7      6.2
Prices Paid for Raw Materials           16.8     56.2     27.0     10.3
Capital Expenditures                    13.3     56.5     30.3     17.0
Volume of New Orders for Exports*       15.8     60.5     23.7      7.9
Supplier Delivery Time*                  4.4     84.6     11.0     -6.6
INDUSTRY BUSINESS ACTIVITY              25.1     37.9     37.1     12.0

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
September 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              29.3     44.0     26.8     -2.6
Volume of Shipments                     29.5     37.4     33.1      3.7
Volume of New Orders                    28.0     43.3     28.7      0.7
Backlog of Orders                       24.7     51.7     23.6     -1.0
Materials Inventories                   17.3     62.0     20.7      3.4
Finished Goods Inventories              24.0     51.5     24.6      0.6
Number of Employees                     13.0     73.2     13.9      0.9
Average Employee Workweek               15.7     63.2     21.1      5.4
Prices Received for Finished Goods*     18.9     69.8     11.3     -7.6
Prices Paid for Raw Materials*          19.4     68.0     12.6     -6.8
Volume of New Orders for Exports*       13.6     76.5      9.9     -3.7
Supplier Delivery Time*                 10.2     85.7      4.1      6.1
INDUSTRY BUSINESS ACTIVITY              27.9     43.1     29.1      1.2

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
September 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.9     41.2     42.9     27.0
Volume of Shipments                     19.7     33.4     46.9     27.2
Volume of New Orders                    19.7     32.5     47.8     28.1
Backlog of Orders                       20.1     55.6     24.4      4.3
Materials Inventories                   28.0     55.7     16.3    -11.7
Finished Goods Inventories              29.0     57.1     13.9    -15.1
Number of Employees                     18.5     59.5     22.1      3.6
Average Employee Workweek               17.8     65.4     16.8     -1.1
Prices Received for Finished Goods      17.7     59.1     23.1      5.4
Prices Paid for Raw Materials           14.9     55.6     29.5     14.7
Capital Expenditures                    12.1     56.2     31.8     19.7
Volume of New Orders for Exports*       10.1     82.3      7.6     -2.5
Supplier Delivery Time*                  4.1     85.6     10.3     -6.2
INDUSTRY BUSINESS ACTIVITY              25.6     39.9     34.4      8.8

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.8     41.2     30.9      3.1
Volume of Shipments                     33.0     35.1     32.0     -1.0
Volume of New Orders                    33.0     37.1     29.9     -3.1
Backlog of Orders                       33.3     47.8     18.9    -14.4
Materials Inventories                   20.7     69.6      9.8    -10.9
Finished Goods Inventories              22.8     55.4     21.7     -1.1
Number of Employees                     14.4     72.2     13.4     -1.0
Average Employee Workweek               17.5     66.0     16.5     -1.0
Prices Received for Finished Goods      17.5     77.3      5.2    -12.4
Prices Paid for Raw Materials           22.3     69.1      8.5    -13.8
Volume of New Orders for Exports        24.7     67.1      8.2    -16.4
Supplier Delivery Time                  11.0     85.7      3.3      7.7
INDUSTRY BUSINESS ACTIVITY              29.9     46.4     23.7     -6.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.4     43.3     44.3     32.0
Volume of Shipments                     16.5     38.1     45.4     28.9
Volume of New Orders                    18.8     38.5     42.7     24.0
Backlog of Orders                       20.9     51.6     27.5      6.6
Materials Inventories                   15.4     64.8     19.8      4.4
Finished Goods Inventories              26.1     50.0     23.9     -2.2
Number of Employees                     12.5     66.7     20.8      8.3
Average Employee Workweek               17.5     63.9     18.6      1.0
Prices Received for Finished Goods      17.5     57.7     24.7      7.2
Prices Paid for Raw Materials           16.8     53.7     29.5     12.6
Capital Expenditures                    13.3     55.6     31.1     17.8
Volume of New Orders for Exports        15.8     60.5     23.7      7.9
Supplier Delivery Time                   4.4     84.6     11.0     -6.6
INDUSTRY BUSINESS ACTIVITY              21.6     43.3     35.1     13.4



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
October 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              37.1     17.5     45.4      8.3
Volume of Shipments                     34.0     19.6     46.4     12.4
Volume of New Orders                    34.4     26.0     39.6      5.2
Backlog of Orders                       34.1     35.2     30.8     -3.3
Materials Inventories                   25.8     52.7     21.5     -4.3
Finished Goods Inventories              21.5     49.5     29.0      7.5
Number of Employees                     28.9     33.0     38.1      9.3
Average Employee Workweek               14.4     59.8     25.8     11.3
Prices Received for Finished Goods      28.9     41.2     29.9      1.0
Prices Paid for Raw Materials           28.4     40.0     31.6      3.2
Capital Expenditures                    13.8     47.1     39.1     25.3
Volume of New Orders for Exports        29.3     52.0     18.7    -10.7
Supplier Delivery Time                  13.3     78.9      7.8      5.6
INDUSTRY BUSINESS ACTIVITY              34.4     20.8     44.8     10.4



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
September 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              29.2     45.3     25.5     -3.8
Volume of Shipments                     26.7     40.0     33.3      6.7
Volume of New Orders                    25.5     44.3     30.2      4.7
Backlog of Orders                       25.5     49.0     25.5      0.0
Materials Inventories                   14.4     63.5     22.1      7.7
Finished Goods Inventories              23.5     53.1     23.5      0.0
Number of Employees                     15.2     70.5     14.3     -1.0
Average Employee Workweek               17.3     61.5     21.2      3.9
Prices Received for Finished Goods      18.9     69.8     11.3     -7.6
Prices Paid for Raw Materials           19.4     68.0     12.6     -6.8
Volume of New Orders for Exports        13.6     76.5      9.9     -3.7
Supplier Delivery Time                  10.2     85.7      4.1      6.1
INDUSTRY BUSINESS ACTIVITY              27.6     44.8     27.6      0.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
September 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              14.3     45.7     40.0     25.7
Volume of Shipments                     18.1     38.1     43.8     25.7
Volume of New Orders                    16.0     38.7     45.3     29.3
Backlog of Orders                       15.6     61.5     22.9      7.3
Materials Inventories                   28.0     58.0     14.0    -14.0
Finished Goods Inventories              25.8     60.8     13.4    -12.4
Number of Employees                     20.2     58.7     21.2      1.0
Average Employee Workweek               16.5     68.9     14.6     -1.9
Prices Received for Finished Goods      18.3     55.8     26.0      7.7
Prices Paid for Raw Materials           13.7     55.9     30.4     16.7
Capital Expenditures                    11.1     54.5     34.3     23.2
Volume of New Orders for Exports        10.1     82.3      7.6     -2.5
Supplier Delivery Time                   4.1     85.6     10.3     -6.2
INDUSTRY BUSINESS ACTIVITY              24.8     43.8     31.4      6.7



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
September 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              28.8     26.0     45.2     16.4
Volume of Shipments                     31.4     24.8     43.8     12.4
Volume of New Orders                    30.2     27.4     42.5     12.3
Backlog of Orders                       33.7     38.8     27.6     -6.1
Materials Inventories                   19.6     48.0     32.4     12.8
Finished Goods Inventories              28.3     43.4     28.3      0.0
Number of Employees                     29.8     33.7     36.5      6.7
Average Employee Workweek               21.2     51.0     27.9      6.7
Prices Received for Finished Goods      24.5     37.7     37.7     13.2
Prices Paid for Raw Materials           36.5     28.8     34.6     -1.9
Capital Expenditures                    19.8     43.6     36.6     16.8
Volume of New Orders for Exports        20.7     64.6     14.6     -6.1
Supplier Delivery Time                  12.2     78.6      9.2      3.1
INDUSTRY BUSINESS ACTIVITY              31.4     21.9     46.7     15.2