Southeastern Manufacturing Survey - October 1996 (September data)

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                              17.9%    45.0%    37.1%    19.2
Volume of Shipments                     22.4%    39.4%    38.2%    15.9
Volume of New Orders                    22.6%    44.5%    32.9%    10.3
Backlog of Orders                       28.4%    51.5%    20.1%    -8.3
Materials Inventories                   16.5%    63.4%    20.2%     3.7
Finished Goods Inventories              26.1%    52.0%    21.9%    -4.2
Number of Employees                     15.4%    75.8%     8.9%    -6.5
Average Employee Workweek               13.5%    71.7%    14.8%     1.4
Prices Received for Finished Goods      14.3%    73.3%    12.4%    -1.9
Prices Paid for Raw Materials           13.9%    67.6%    18.5%     4.7
Volume of New Orders for Exports        11.0%    74.8%    14.2%     3.2
Supplier Delivery Time                   7.1%    85.9%     7.1%     0.0
INDUSTRY BUSINESS ACTIVITY              19.9%    54.4%    25.7%     5.8

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                              17.6%    39.3%    43.1%    25.5
Volume of Shipments                     17.4%    37.1%    45.5%    28.2
Volume of New Orders                    17.7%    42.2%    40.1%    22.4
Backlog of Orders                       21.5%    59.3%    19.2%    -2.4
Materials Inventories                   19.6%    65.9%    14.5%    -5.1
Finished Goods Inventories              28.8%    56.5%    14.7%   -14.2
Number of Employees                     24.3%    60.2%    15.5%    -8.8
Average Employee Workweek               22.2%    71.8%     6.1%   -16.1
Prices Received for Finished Goods      13.6%    61.2%    25.2%    11.6
Prices Paid for Raw Materials           13.3%    51.1%    35.6%    22.4
Capital Expenditures                    13.0%    53.0%    34.0%    20.9
Volume of New Orders for Exports         5.9%    76.5%    17.6%    11.8
Supplier Delivery Time                   4.2%    85.3%     9.9%    -5.6
INDUSTRY BUSINESS ACTIVITY              21.2%    44.8%    33.9%    12.7

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              22.5%    42.7%    34.8%    12.3
Volume of Shipments                     23.8%    38.3%    37.9%    14.1
Volume of New Orders                    25.9%    43.0%    31.1%     5.3
Backlog of Orders                       33.4%    43.9%    22.8%   -10.6
Materials Inventories                   22.3%    64.5%    13.2%    -9.1
Finished Goods Inventories              37.3%    40.8%    21.9%   -15.4
Number of Employees                     17.2%    66.4%    16.4%    -0.7
Average Employee Workweek               14.8%    68.4%    16.8%     2.0
Prices Received for Finished Goods      12.9%    76.6%    10.5%    -2.4
Prices Paid for Raw Materials           11.4%    67.3%    21.3%     9.9
Volume of New Orders for Exports         9.6%    78.4%    12.0%     2.3
Supplier Delivery Time                  11.7%    80.0%     8.3%     3.3
INDUSTRY BUSINESS ACTIVITY              21.5%    52.1%    26.4%     4.9

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              12.6%    37.6%    49.8%    37.2
Volume of Shipments                     17.6%    33.9%    48.5%    30.9
Volume of New Orders                    16.5%    35.1%    48.4%    31.9
Backlog of Orders                       24.2%    52.6%    23.2%    -1.1
Materials Inventories                   18.1%    63.5%    18.5%     0.4
Finished Goods Inventories              18.4%    59.2%    22.4%     4.1
Number of Employees                     24.0%    55.8%    20.2%    -3.8
Average Employee Workweek               11.3%    75.8%    12.9%     1.6
Prices Received for Finished Goods      16.6%    56.0%    27.3%    10.7
Prices Paid for Raw Materials           15.7%    48.6%    35.7%    20.0
Capital Expenditures                     9.3%    58.8%    31.8%    22.5
Volume of New Orders for Exports         6.1%    67.3%    26.5%    20.4
Supplier Delivery Time                   3.4%    83.6%    13.0%    -9.6
INDUSTRY BUSINESS ACTIVITY              16.1%    37.7%    46.2%    30.2

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                              20.0%    45.7%    34.3%    14.3
Volume of Shipments                     22.9%    41.0%    36.2%    13.3
Volume of New Orders                    22.9%    43.8%    33.3%    10.5
Backlog of Orders                       31.0%    48.0%    21.0%   -10.0
Materials Inventories                   17.8%    64.4%    17.8%     0.0
Finished Goods Inventories              29.2%    51.0%    19.8%    -9.4
Number of Employees                     15.2%    73.3%    11.4%    -3.8
Average Employee Workweek               15.2%    68.6%    16.2%     1.0
Prices Received for Finished Goods      14.3%    73.3%    12.4%    -1.9
Prices Paid for Raw Materials           14.3%    68.6%    17.1%     2.9
Volume of New Orders for Exports         9.9%    75.3%    14.8%     4.9
Supplier Delivery Time                   7.1%    85.9%     7.1%     0.0
INDUSTRY BUSINESS ACTIVITY              18.4%    57.3%    24.3%     5.8

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                              18.1%    39.0%    42.9%    24.8
Volume of Shipments                     17.3%    36.5%    46.2%    28.9
Volume of New Orders                    16.3%    43.3%    40.4%    24.0
Backlog of Orders                       21.0%    59.0%    20.0%    -1.0
Materials Inventories                   19.8%    64.4%    15.8%    -4.0
Finished Goods Inventories              26.8%    56.7%    16.5%   -10.3
Number of Employees                     23.8%    58.1%    18.1%    -5.7
Average Employee Workweek               21.9%    70.5%     7.6%   -14.3
Prices Received for Finished Goods      14.3%    57.1%    28.6%    14.3
Prices Paid for Raw Materials           13.3%    48.6%    38.1%    24.8
Capital Expenditures                    13.0%    53.0%    34.0%    21.0
Volume of New Orders for Exports         5.9%    76.5%    17.6%    11.8
Supplier Delivery Time                   4.3%    86.2%     9.6%    -5.3
INDUSTRY BUSINESS ACTIVITY              21.2%    45.2%    33.7%    12.5

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                              30.5%    24.8%    44.8%    14.3
Volume of Shipments                     33.7%    20.2%    46.2%    12.5
Volume of New Orders                    35.2%    27.6%    37.1%     1.9
Backlog of Orders                       37.0%    39.0%    24.0%   -13.0
Materials Inventories                   28.0%    47.0%    25.0%    -3.0
Finished Goods Inventories              30.9%    42.3%    26.8%    -4.1
Number of Employees                     41.9%    33.3%    24.8%   -17.1
Average Employee Workweek               30.5%    47.6%    21.9%    -8.6
Prices Received for Finished Goods      25.7%    33.3%    41.0%    15.2
Prices Paid for Raw Materials           22.3%    22.3%    55.3%    33.0
Capital Expenditures                    24.2%    48.5%    27.3%     3.0
Volume of New Orders for Exports        11.8%    69.4%    18.8%     7.1
Supplier Delivery Time                  16.0%    67.0%    17.0%    -1.1
INDUSTRY BUSINESS ACTIVITY              38.2%    21.6%    40.2%     2.0

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.8%    39.2%    40.0%    19.2
Volume of Shipments                     21.0%    37.9%    41.1%    20.2
Volume of New Orders                    24.8%    41.6%    33.6%     8.8
Backlog of Orders                       31.4%    44.1%    24.6%    -6.8
Materials Inventories                   23.4%    62.9%    13.7%    -9.7
Finished Goods Inventories              38.0%    43.0%    19.0%   -19.0
Number of Employees                     17.6%    63.2%    19.2%     1.6
Average Employee Workweek               13.6%    65.6%    20.8%     7.2
Prices Received for Finished Goods      12.9%    76.6%    10.5%    -2.4
Prices Paid for Raw Materials           11.3%    66.1%    22.6%    11.3
Volume of New Orders for Exports         9.5%    78.9%    11.6%     2.1
Supplier Delivery Time                  11.7%    80.0%     8.3%     3.3
INDUSTRY BUSINESS ACTIVITY              20.2%    52.4%    27.4%     7.3

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              16.4%    37.7%    45.9%    29.5
Volume of Shipments                     20.7%    34.7%    44.6%    24.0
Volume of New Orders                    19.5%    35.8%    44.7%    25.2
Backlog of Orders                       26.5%    52.1%    21.4%    -5.1
Materials Inventories                   19.0%    63.6%    17.4%    -1.7
Finished Goods Inventories              19.2%    58.3%    22.5%     3.3
Number of Employees                     22.8%    57.7%    19.5%    -3.3
Average Employee Workweek               17.9%    71.5%    10.6%    -7.3
Prices Received for Finished Goods      18.7%    56.9%    24.4%     5.7
Prices Paid for Raw Materials           15.1%    47.1%    37.8%    22.7
Capital Expenditures                     9.4%    58.1%    32.5%    23.1
Volume of New Orders for Exports         6.1%    67.3%    26.5%    20.4
Supplier Delivery Time                   3.4%    83.9%    12.7%    -9.3
INDUSTRY BUSINESS ACTIVITY              20.0%    40.8%    39.2%    19.2

FEDERAL RESERVE BANK OF ATLANTA
SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
AUG96

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              32.3%    22.6%    45.2%    12.9
Volume of Shipments                     33.9%    17.7%    48.4%    14.5
Volume of New Orders                    33.1%    25.8%    41.1%     8.1
Backlog of Orders                       31.6%    38.5%    29.9%    -1.7
Materials Inventories                   35.2%    44.3%    20.5%   -14.8
Finished Goods Inventories              35.3%    38.7%    26.1%    -9.2
Number of Employees                     40.3%    32.3%    27.4%   -12.9
Average Employee Workweek               21.8%    53.2%    25.0%     3.2
Prices Received for Finished Goods      26.8%    30.1%    43.1%    16.3
Prices Paid for Raw Materials           25.2%    23.6%    51.2%    26.0
Capital Expenditures                    27.4%    43.6%    29.1%     1.7
Volume of New Orders for Exports        11.3%    62.9%    25.8%    14.4
Supplier Delivery Time                  11.1%    70.9%    17.9%    -6.8
INDUSTRY BUSINESS ACTIVITY              38.0%    23.1%    38.8%     0.8