Southeastern Manufacturing Survey - October 1998 (September data)

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                              26.1     46.6     27.3      1.2
Volume of Shipments                     30.7     37.7     31.5      0.8
Volume of New Orders                    29.1     42.8     28.1     -1.1
Backlog of Orders                       24.8     52.5     22.7     -2.2
Materials Inventories                   16.0     61.8     22.2      6.1
Finished Goods Inventories              23.8     53.2     23.0     -0.8
Number of Employees                     13.0     72.4     14.5      1.5
Average Employee Workweek               15.7     64.5     19.9      4.2
Prices Received for Finished Goods*     21.5     68.8      9.7    -11.8
Prices Paid for Raw Materials*          21.1     67.8     11.1    -10.0
Volume of New Orders for Exports*       12.7     78.9      8.5     -4.2
Supplier Delivery Time*                 10.6     85.9      3.5      7.1
INDUSTRY BUSINESS ACTIVITY              28.9     43.1     28.0     -1.0

*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                              13.5     46.1     40.4     26.9
Volume of Shipments                     17.0     36.1     46.9     30.0
Volume of New Orders                    19.9     34.1     46.1     26.2
Backlog of Orders                       20.7     55.4     24.0      3.3
Materials Inventories                   26.6     58.2     15.2    -11.4
Finished Goods Inventories              27.0     60.0     12.9    -14.1
Number of Employees                     18.6     58.7     22.7      4.2
Average Employee Workweek               15.7     66.9     17.4      1.6
Prices Received for Finished Goods      17.2     58.3     24.6      7.4
Prices Paid for Raw Materials           14.6     54.7     30.7     16.1
Capital Expenditures                    13.6     54.3     32.2     18.6
Volume of New Orders for Exports*        7.2     85.5      7.2      0.0
Supplier Delivery Time*                  2.4     88.1      9.5     -7.1
INDUSTRY BUSINESS ACTIVITY              25.0     40.5     34.6      9.6

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
August 1998

                                    Percent  Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase  Index
Production                              24.1     39.7     36.2     12.1
Volume of Shipments                     30.0     35.0     35.0      5.1
Volume of New Orders                    26.4     40.0     33.6      7.1
Backlog of Orders                       23.9     49.6     26.5      2.6
Materials Inventories                   12.4     65.6     22.1      9.7
Finished Goods Inventories              11.5     48.3     40.1     28.6
Number of Employees                     12.2     69.5     18.3      6.1
Average Employee Workweek               13.0     65.2     21.9      9.0
Prices Received for Finished Goods*     19.6     66.7     13.7     -5.9
Prices Paid for Raw Materials*          18.4     72.8      8.7     -9.7
Volume of New Orders for Exports*       12.9     74.1     12.9      0.0
Supplier Delivery Time*                  8.2     87.6      4.1      4.1
INDUSTRY BUSINESS ACTIVITY              34.5     42.8     22.7    -11.9

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
August 1998

                                    Percent  Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase  Index
Production                              19.1     36.7     44.2     25.0
Volume of Shipments                     22.8     33.5     43.8     21.0
Volume of New Orders                    22.0     37.5     40.5     18.5
Backlog of Orders                       22.9     52.3     24.8      1.9
Materials Inventories                   28.4     60.2     11.4    -16.9
Finished Goods Inventories              33.7     48.5     17.8    -15.9
Number of Employees                     18.1     58.3     23.6      5.5
Average Employee Workweek               19.9     63.1     17.0     -2.9
Prices Received for Finished Goods      12.2     64.4     23.4     11.1
Prices Paid for Raw Materials           15.7     58.1     26.1     10.4
Capital Expenditures                    17.6     48.0     34.5     17.0
Volume of New Orders for Exports*       14.0     70.9     15.1      1.2
Supplier Delivery Time*                  3.2     87.2      9.6     -6.4
INDUSTRY BUSINESS ACTIVITY              23.6     42.2     34.2     10.6

*Not Seasonally Adjusted

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                              25.8     48.4     25.8      0.0
Volume of Shipments                     28.3     40.2     31.5      3.3
Volume of New Orders                    26.9     43.0     30.1      3.2
Backlog of Orders                       26.4     49.4     24.1     -2.3
Materials Inventories                   13.2     63.7     23.1      9.9
Finished Goods Inventories              23.0     55.2     21.8     -1.2
Number of Employees                     15.2     69.6     15.2      0.0
Average Employee Workweek               17.4     63.0     19.6      2.2
Prices Received for Finished Goods      21.5     68.8      9.7    -11.8
Prices Paid for Raw Materials           21.1     67.8     11.1    -10.0
Volume of New Orders for Exports        12.7     78.9      8.5     -4.2
Supplier Delivery Time                  10.6     85.9      3.5      7.1
INDUSTRY BUSINESS ACTIVITY              29.0     44.1     26.9     -2.2



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                              12.0     51.1     37.0     25.0
Volume of Shipments                     15.2     41.3     43.5     28.3
Volume of New Orders                    16.1     40.9     43.0     26.9
Backlog of Orders                       16.5     61.2     22.4      5.9
Materials Inventories                   25.8     60.7     13.5    -12.4
Finished Goods Inventories              24.4     64.0     11.6    -12.8
Number of Employees                     19.8     58.2     22.0      2.2
Average Employee Workweek               14.3     70.3     15.4      1.1
Prices Received for Finished Goods      17.6     54.9     27.5      9.9
Prices Paid for Raw Materials           13.5     55.1     31.5     18.0
Capital Expenditures                    12.6     52.9     34.5     21.8
Volume of New Orders for Exports         7.2     85.5      7.2      0.0
Supplier Delivery Time                   2.4     88.1      9.5     -7.1
INDUSTRY BUSINESS ACTIVITY              23.7     44.1     32.3      8.6



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                              28.6     25.3     46.2     17.6
Volume of Shipments                     31.5     26.1     42.4     10.9
Volume of New Orders                    28.0     28.0     44.1     16.1
Backlog of Orders                       32.2     39.1     28.7     -3.5
Materials Inventories                   17.6     50.5     31.9     14.3
Finished Goods Inventories              26.1     45.5     28.4      2.3
Number of Employees                     28.6     35.2     36.3      7.7
Average Employee Workweek               22.8     50.0     27.2      4.4
Prices Received for Finished Goods      25.8     38.7     35.5      9.7
Prices Paid for Raw Materials           34.1     30.8     35.2      1.1
Capital Expenditures                    18.0     46.1     36.0     18.0
Volume of New Orders for Exports        19.4     68.1     12.5     -6.9
Supplier Delivery Time                  12.9     78.8      8.2      4.7
INDUSTRY BUSINESS ACTIVITY              30.1     23.7     46.2     16.1



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
August 1998

                                    Percent  Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase  Index
Production                              19.4     36.9     43.7     24.3
Volume of Shipments                     26.5     34.3     39.2     12.8
Volume of New Orders                    25.2     38.8     35.9     10.7
Backlog of Orders                       24.5     45.9     29.6      5.1
Materials Inventories                   12.0     65.0     23.0     11.0
Finished Goods Inventories              15.5     48.5     36.1     20.6
Number of Employees                     12.6     67.0     20.4      7.8
Average Employee Workweek               10.7     65.0     24.3     13.6
Prices Received for Finished Goods      19.6     66.7     13.7     -5.9
Prices Paid for Raw Materials           18.4     72.8      8.7     -9.7
Volume of New Orders for Exports        12.9     74.1     12.9      0.0
Supplier Delivery Time                   8.2     87.6      4.1      4.1
INDUSTRY BUSINESS ACTIVITY              31.7     43.6     24.8     -6.9



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
August 1998

                                    Percent  Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase  Index
Production                              24.5     37.3     38.2     13.7
Volume of Shipments                     26.7     35.6     37.6     10.9
Volume of New Orders                    23.5     38.2     38.2     14.7
Backlog of Orders                       27.1     53.1     19.8     -7.3
Materials Inventories                   27.6     63.3      9.2    -18.4
Finished Goods Inventories              32.0     49.5     18.6    -13.4
Number of Employees                     18.6     59.8     21.6      2.9
Average Employee Workweek               22.0     66.0     12.0    -10.0
Prices Received for Finished Goods      14.7     64.7     20.6      5.9
Prices Paid for Raw Materials           17.6     57.8     24.5      6.9
Capital Expenditures                    16.5     47.4     36.1     19.6
Volume of New Orders for Exports        14.0     70.9     15.1      1.2
Supplier Delivery Time                   3.2     87.2      9.6     -6.4
INDUSTRY BUSINESS ACTIVITY              29.3     44.4     26.3     -3.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
August 1998

                                    Percent  Percent   Percent   Diffusion
SOUTHEASTERN PLANT INDICATORS       Decrease No Change Increase  Index
Production                              28.2     26.2     45.6     17.5
Volume of Shipments                     33.3     27.5     39.2      5.9
Volume of New Orders                    27.2     34.0     38.8     11.7
Backlog of Orders                       26.5     41.8     31.6      5.1
Materials Inventories                   17.0     56.0     27.0     10.0
Finished Goods Inventories              25.5     40.8     33.7      8.2
Number of Employees                     28.4     40.2     31.4      2.9
Average Employee Workweek               17.6     62.7     19.6      2.0
Prices Received for Finished Goods      27.2     35.0     37.9     10.7
Prices Paid for Raw Materials           29.1     32.0     38.8      9.7
Capital Expenditures                    19.6     40.2     40.2     20.6
Volume of New Orders for Exports        21.8     63.2     14.9     -6.9
Supplier Delivery Time                  10.3     82.5      7.2      3.1
INDUSTRY BUSINESS ACTIVITY              33.3     23.5     43.1      9.8