Southeastern Manufacturing Survey - September 1997 (August data)

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
AUGUST97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.4     44.0     35.6     15.2
Volume of Shipments                     26.6     38.5     34.9      8.4
Volume of New Orders                    24.9     45.3     29.8      4.8
Backlog of Orders                       29.7     53.7     16.6    -13.1
Materials Inventories                   18.3     62.9     18.9      0.6
Finished Goods Inventories              26.5     52.8     20.8     -5.7
Number of Employees                     10.3     73.2     16.6      6.3
Average Employee Workweek               16.3     71.9     11.8     -4.4
Prices Received for Finished Goods*     11.4     75.2     13.3      1.9
Prices Paid for Raw Materials            7.6     71.6     20.8     13.2
Volume of New Orders for Exports*        7.3     76.8     15.9      8.5
Supplier Delivery Time*                  9.7     90.3      0.0      9.7
INDUSTRY BUSINESS ACTIVITY              16.3     50.5     33.2     16.9

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
AUGUST97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.2     37.2     45.6     28.4
Volume of Shipments                     22.9     32.5     44.6     21.6
Volume of New Orders                    18.4     33.0     48.6     30.2
Backlog of Orders                       19.8     55.5     24.6      4.8
Materials Inventories                   23.3     54.8     21.9     -1.4
Finished Goods Inventories              22.8     52.7     24.5      1.8
Number of Employees                     14.1     62.9     23.0      9.0
Average Employee Workweek               11.3     74.3     14.4      3.1
Prices Received for Finished Goods      10.1     59.9     30.1     20.0
Prices Paid for Raw Materials           11.9     53.8     34.3     22.4
Capital Expenditures                    17.2     50.1     32.7     15.5
Volume of New Orders for Exports*        7.1     65.9     27.1     20.0
Supplier Delivery Time*                  4.0     90.1      5.9     -2.0
INDUSTRY BUSINESS ACTIVITY              17.6     41.6     40.9     23.3

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
JULY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              23.8     42.0     34.2     10.4
Volume of Shipments                     16.3     42.8     40.9     24.6
Volume of New Orders                    21.5     38.2     40.3     18.8
Backlog of Orders                       16.3     53.2     30.5     14.2
Materials Inventories                   17.2     63.4     19.4      2.2
Finished Goods Inventories              26.9     42.6     30.5      3.6
Number of Employees                     14.8     60.6     24.7      9.9
Average Employee Workweek                8.0     72.8     19.2     11.2
Prices Received for Finished Goods*      6.8     75.7     17.5     10.7
Prices Paid for Raw Materials           10.8     70.8     18.4      7.6
Volume of New Orders for Exports*        8.0     78.7     13.3      5.3
Supplier Delivery Time*                  5.9     89.1      5.0      1.0
INDUSTRY BUSINESS ACTIVITY              13.8     49.1     37.1     23.4

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
JULY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              11.4     40.3     48.3     36.9
Volume of Shipments                     12.7     31.2     56.2     43.5
Volume of New Orders                     9.2     42.7     48.1     38.9
Backlog of Orders                       18.7     59.9     21.4      2.7
Materials Inventories                   22.3     56.0     21.7     -0.6
Finished Goods Inventories              27.2     48.1     24.7     -2.5
Number of Employees                     14.9     62.0     23.0      8.1
Average Employee Workweek               15.0     70.7     14.3     -0.7
Prices Received for Finished Goods      10.5     52.8     36.8     26.3
Prices Paid for Raw Materials           12.0     42.6     45.4     33.4
Capital Expenditures                    16.0     54.5     29.5     13.5
Volume of New Orders for Exports*        3.8     72.2     24.1     20.3
Supplier Delivery Time*                  4.0     83.0     13.0     -9.0
INDUSTRY BUSINESS ACTIVITY              11.7     38.6     49.7     38.0

*Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
AUGUST97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.1     41.9     41.0     23.8
Volume of Shipments                     21.7     38.7     39.6     17.9
Volume of New Orders                    23.6     45.3     31.1      7.6
Backlog of Orders                       29.7     52.5     17.8    -11.9
Materials Inventories                   19.6     60.8     19.6      0.0
Finished Goods Inventories              28.3     55.6     16.2    -12.1
Number of Employees                     10.4     70.8     18.9      8.5
Average Employee Workweek               14.3     70.5     15.2      1.0
Prices Received for Finished Goods      11.4     75.2     13.3      1.9
Prices Paid for Raw Materials            5.7     70.5     23.8     18.1
Volume of New Orders for Exports         7.3     76.8     15.9      8.5
Supplier Delivery Time                   9.7     90.3      0.0      9.7
INDUSTRY BUSINESS ACTIVITY              14.3     51.4     34.3     20.0



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
AUGUST97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              21.9     38.1     40.0     18.1
Volume of Shipments                     25.7     34.3     40.0     14.3
Volume of New Orders                    22.1     33.7     44.2     22.1
Backlog of Orders                       22.8     56.4     20.8     -2.0
Materials Inventories                   21.6     57.8     20.6     -1.0
Finished Goods Inventories              19.4     56.1     24.5      5.1
Number of Employees                     14.2     65.1     20.8      6.6
Average Employee Workweek               15.2     74.3     10.5     -4.8
Prices Received for Finished Goods      12.4     61.0     26.7     14.3
Prices Paid for Raw Materials           12.3     51.9     35.8     23.6
Capital Expenditures                    15.7     51.0     33.3     17.7
Volume of New Orders for Exports         7.1     65.9     27.1     20.0
Supplier Delivery Time                   4.0     90.1      5.9     -2.0
INDUSTRY BUSINESS ACTIVITY              22.5     44.1     33.3     10.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
AUGUST97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              24.5     27.4     48.1     23.6
Volume of Shipments                     30.2     22.6     47.2     17.0
Volume of New Orders                    27.6     28.6     43.8     16.2
Backlog of Orders                       24.8     42.6     32.7      7.9
Materials Inventories                   28.2     47.6     24.3     -3.9
Finished Goods Inventories              28.0     46.0     26.0     -2.0
Number of Employees                     25.5     40.6     34.0      8.5
Average Employee Workweek               16.2     64.8     19.0      2.9
Prices Received for Finished Goods      25.7     34.3     40.0     14.3
Prices Paid for Raw Materials           14.2     30.2     55.7     41.5
Capital Expenditures                    21.6     43.1     35.3     13.7
Volume of New Orders for Exports        17.6     50.6     31.8     14.1
Supplier Delivery Time                  13.9     79.2      6.9      6.9
INDUSTRY BUSINESS ACTIVITY              22.3     29.1     48.5     26.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
JULY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              34.6     38.5     26.9     -7.7
Volume of Shipments                     26.0     38.5     35.6      9.6
Volume of New Orders                    26.2     37.9     35.9      9.7
Backlog of Orders                       20.2     50.5     29.3      9.1
Materials Inventories                   20.6     58.8     20.6      0.0
Finished Goods Inventories              34.0     38.1     27.8     -6.2
Number of Employees                     17.3     59.6     23.1      5.8
Average Employee Workweek               11.7     70.9     17.5      5.8
Prices Received for Finished Goods       6.8     75.7     17.5     10.7
Prices Paid for Raw Materials           10.9     72.3     16.8      5.9
Volume of New Orders for Exports         8.0     78.7     13.3      5.3
Supplier Delivery Time                   5.9     89.1      5.0      1.0
INDUSTRY BUSINESS ACTIVITY              19.6     48.0     32.4     12.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
JULY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              15.5     40.8     43.7     28.2
Volume of Shipments                     18.4     33.0     48.5     30.1
Volume of New Orders                    13.5     44.2     42.3     28.9
Backlog of Orders                       24.2     57.6     18.2     -6.1
Materials Inventories                   25.7     54.5     19.8     -5.9
Finished Goods Inventories              29.2     46.9     24.0     -5.2
Number of Employees                     17.5     63.1     19.4      1.9
Average Employee Workweek               17.8     72.3      9.9     -7.9
Prices Received for Finished Goods      11.7     60.2     28.2     16.5
Prices Paid for Raw Materials           11.8     49.0     39.2     27.5
Capital Expenditures                    16.7     55.9     27.5     10.8
Volume of New Orders for Exports         3.8     72.2     24.1     20.3
Supplier Delivery Time                   4.0     83.0     13.0     -9.0
INDUSTRY BUSINESS ACTIVITY              17.5     39.2     43.3     25.8



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
JULY97

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              29.8     18.3     51.9     22.1
Volume of Shipments                     30.1     15.5     54.4     24.3
Volume of New Orders                    26.0     30.8     43.3     17.3
Backlog of Orders                       24.2     42.4     33.3      9.1
Materials Inventories                   30.4     42.2     27.5     -2.9
Finished Goods Inventories              29.9     34.0     36.1      6.2
Number of Employees                     27.9     32.7     39.4     11.5
Average Employee Workweek               13.6     60.2     26.2     12.6
Prices Received for Finished Goods      20.4     33.0     46.6     26.2
Prices Paid for Raw Materials           26.5     25.5     48.0     21.6
Capital Expenditures                    24.8     46.5     28.7      4.0
Volume of New Orders for Exports        10.0     60.0     30.0     20.0
Supplier Delivery Time                  14.7     76.5      8.8      5.9
INDUSTRY BUSINESS ACTIVITY              19.2     26.3     54.5     35.4