Southeastern Manufacturing Survey - September 1998 (August data)

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                              23.1     38.5     38.4     15.3
Volume of Shipments                     30.3     34.0     35.8      5.5
Volume of New Orders                    25.9     39.4     34.7      8.8
Backlog of Orders                       23.0     48.4     28.5      5.5
Materials Inventories                   11.0     66.7     22.2     11.2
Finished Goods Inventories              12.4     46.1     41.6     29.2
Number of Employees                     11.2     70.8     18.1      7.0
Average Employee Workweek               12.3     66.2     21.5      9.2
Prices Received for Finished Goods*     19.8     65.6     14.6     -5.2
Prices Paid for Raw Materials*          18.6     72.2      9.3     -9.3
Volume of New Orders for Exports*       12.5     75.0     12.5      0.0
Supplier Delivery Time*                  8.8     86.8      4.4      4.4
INDUSTRY BUSINESS ACTIVITY              34.6     42.9     22.5    -12.1

*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                              18.9     36.4     44.7     25.7
Volume of Shipments                     22.4     34.8     42.9     20.5
Volume of New Orders                    23.7     38.7     37.7     14.0
Backlog of Orders                       24.9     52.8     22.3     -2.6
Materials Inventories                   28.0     61.3     10.7    -17.4
Finished Goods Inventories              33.5     48.5     18.1    -15.4
Number of Employees                     18.9     59.0     22.1      3.2
Average Employee Workweek               20.1     64.7     15.2     -4.9
Prices Received for Finished Goods      11.8     63.7     24.5     12.8
Prices Paid for Raw Materials           15.9     58.0     26.1     10.2
Capital Expenditures                    16.6     47.7     35.7     19.1
Volume of New Orders for Exports*       12.3     72.8     14.8      2.5
Supplier Delivery Time*                  2.3     87.5     10.2     -8.0
INDUSTRY BUSINESS ACTIVITY              23.3     43.3     33.4     10.2

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Versus Last Month for:
July 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              13.5     50.8     35.7     22.1
Volume of Shipments                     27.6     37.8     34.6      7.0
Volume of New Orders                    26.8     44.8     28.4      1.6
Backlog of Orders                       23.3     52.5     24.2      0.9
Materials Inventories                   15.4     68.6     16.0      0.6
Finished Goods Inventories              16.9     61.0     22.1      5.2
Number of Employees                     11.2     69.7     19.2      8.0
Average Employee Workweek               10.1     73.0     16.9      6.8
Prices Received for Finished Goods*     19.1     72.3      8.5    -10.6
Prices Paid for Raw Materials*          20.2     74.5      5.3    -14.9
Volume of New Orders for Exports*       19.2     72.6      8.2    -11.0
Supplier Delivery Time*                 13.0     82.6      4.3      8.7
INDUSTRY BUSINESS ACTIVITY              23.6     51.5     24.9      1.2

* Not Seasonally Adjusted

FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Seasonally Adjusted Data

Six Months from Now for:
July 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              17.3     36.4     46.3     29.1
Volume of Shipments                     22.3     28.0     49.8     27.5
Volume of New Orders                    22.6     34.1     43.3     20.6
Backlog of Orders                       22.7     50.4     26.9      4.3
Materials Inventories                   22.9     61.6     15.6     -7.3
Finished Goods Inventories              23.1     55.5     21.4     -1.7
Number of Employees                     15.7     57.3     27.0     11.3
Average Employee Workweek               22.5     61.1     16.3     -6.2
Prices Received for Finished Goods      16.5     52.8     30.7     14.3
Prices Paid for Raw Materials           13.0     56.4     30.6     17.6
Capital Expenditures                    17.0     51.5     31.5     14.5
Volume of New Orders for Exports*        9.5     74.3     16.2      6.8
Supplier Delivery Time*                  6.6     84.6      8.8     -2.2
INDUSTRY BUSINESS ACTIVITY              23.5     39.0     37.5     14.0

*Not Seasonally Adjusted

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                              18.6     36.1     45.4     26.8
Volume of Shipments                     27.1     33.3     39.6     12.5
Volume of New Orders                    24.7     38.1     37.1     12.4
Backlog of Orders                       23.9     44.6     31.5      7.6
Materials Inventories                   10.6     66.0     23.4     12.8
Finished Goods Inventories              15.2     46.7     38.0     22.8
Number of Employees                     11.3     69.1     19.6      8.3
Average Employee Workweek               10.3     66.0     23.7     13.4
Prices Received for Finished Goods      19.8     65.6     14.6     -5.2
Prices Paid for Raw Materials           18.6     72.2      9.3     -9.3
Volume of New Orders for Exports        12.5     75.0     12.5      0.0
Supplier Delivery Time                   8.8     86.8      4.4      4.4
INDUSTRY BUSINESS ACTIVITY              31.3     43.8     25.0     -6.3



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                              24.0     37.5     38.5     14.6
Volume of Shipments                     25.3     37.9     36.8     11.6
Volume of New Orders                    25.0     39.6     35.4     10.4
Backlog of Orders                       28.9     54.4     16.7    -12.2
Materials Inventories                   27.2     64.1      8.7    -18.5
Finished Goods Inventories              32.6     48.9     18.5    -14.1
Number of Employees                     19.8     60.4     19.8      0.0
Average Employee Workweek               21.3     69.1      9.6    -11.7
Prices Received for Finished Goods      14.6     63.5     21.9      7.3
Prices Paid for Raw Materials           17.7     57.3     25.0      7.3
Capital Expenditures                    15.2     47.8     37.0     21.7
Volume of New Orders for Exports        12.3     72.8     14.8      2.5
Supplier Delivery Time                   2.3     87.5     10.2     -8.0
INDUSTRY BUSINESS ACTIVITY              28.7     45.7     25.5     -3.2



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                              27.8     25.8     46.4     18.6
Volume of Shipments                     34.4     27.1     38.5      4.2
Volume of New Orders                    26.8     34.0     39.2     12.4
Backlog of Orders                       25.0     42.4     32.6      7.6
Materials Inventories                   17.0     58.5     24.5      7.5
Finished Goods Inventories              25.8     41.9     32.3      6.5
Number of Employees                     28.1     41.7     30.2      2.1
Average Employee Workweek               16.7     64.6     18.8      2.1
Prices Received for Finished Goods      25.8     36.1     38.1     12.4
Prices Paid for Raw Materials           28.9     34.0     37.1      8.3
Capital Expenditures                    19.6     41.3     39.1     19.6
Volume of New Orders for Exports        22.0     64.6     13.4     -8.5
Supplier Delivery Time                   9.9     83.5      6.6      3.3
INDUSTRY BUSINESS ACTIVITY              34.0     23.7     42.3      8.3



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Versus Last Month for:
July 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              23.4     47.9     28.7      5.3
Volume of Shipments                     35.1     36.2     28.7     -6.4
Volume of New Orders                    31.9     44.7     23.4     -8.5
Backlog of Orders                       25.0     51.1     23.9     -1.1
Materials Inventories                   17.2     66.7     16.1     -1.1
Finished Goods Inventories              23.7     57.0     19.4     -4.3
Number of Employees                     12.8     68.1     19.1      6.4
Average Employee Workweek               11.7     73.4     14.9      3.2
Prices Received for Finished Goods      19.1     72.3      8.5    -10.6
Prices Paid for Raw Materials           20.2     74.5      5.3    -14.9
Volume of New Orders for Exports        19.2     72.6      8.2    -11.0
Supplier Delivery Time                  13.0     82.6      4.3      8.7
INDUSTRY BUSINESS ACTIVITY              28.7     50.0     21.3     -7.5



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Six Months from Now for:
July 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              20.4     39.8     39.8     19.4
Volume of Shipments                     28.0     28.0     44.1     16.1
Volume of New Orders                    26.9     35.5     37.6     10.8
Backlog of Orders                       29.9     46.0     24.1     -5.8
Materials Inventories                   23.9     60.9     15.2     -8.7
Finished Goods Inventories              23.7     53.8     22.6     -1.1
Number of Employees                     17.0     59.6     23.4      6.4
Average Employee Workweek               27.7     61.7     10.6    -17.0
Prices Received for Finished Goods      18.1     57.4     24.5      6.4
Prices Paid for Raw Materials           12.8     59.6     27.7     14.9
Capital Expenditures                    18.7     53.8     27.5      8.8
Volume of New Orders for Exports         9.5     74.3     16.2      6.8
Supplier Delivery Time                   6.6     84.6      8.8     -2.2
INDUSTRY BUSINESS ACTIVITY              29.0     38.7     32.3      3.2



FEDERAL RESERVE BANK OF ATLANTA

SOUTHEASTERN SURVEY OF MANUFACTURING CONDITIONS

Not Seasonally Adjusted Data

Year Ago for:
July 1998

                                      Percent  Percent   Percent  Diffusion
SOUTHEASTERN PLANT INDICATORS         Decrease No Change Increase Index
Production                              27.7     28.7     43.6     16.0
Volume of Shipments                     31.9     28.7     39.4      7.5
Volume of New Orders                    25.5     36.2     38.3     12.8
Backlog of Orders                       25.0     43.2     31.8      6.8
Materials Inventories                   18.1     53.2     28.7     10.6
Finished Goods Inventories              25.5     50.0     24.5     -1.1
Number of Employees                     26.6     41.5     31.9      5.3
Average Employee Workweek               21.3     53.2     25.5      4.3
Prices Received for Finished Goods      24.5     42.6     33.0      8.5
Prices Paid for Raw Materials           28.3     33.7     38.0      9.8
Capital Expenditures                    20.2     41.6     38.2     18.0
Volume of New Orders for Exports        12.0     69.3     18.7      6.7
Supplier Delivery Time                  14.1     77.2      8.7      5.4
INDUSTRY BUSINESS ACTIVITY              29.0     26.9     44.1     15.1