EconSouth (First Quarter 1999)
Southeastern Manufacturing Survey
Below are highlights from the monthly survey of southeastern manufacturers conducted by the Federal Reserve Bank of Atlanta in February.
"Current indicators for the region's manufacturing activity generally strengthened in January after months of sluggishness.
"The current production index jumped to 14.2 from 8.4 in December.
"Other current indexes improved overall. The number of employees index edged up while the indexes for new orders, materials and finished goods inventories, and new export orders rose more noticeably. The shipments and backlog indexes remained steady, but the average workweek index slipped.
"Current price indexes rose; the prices received index remained negative, as it has for eight months, and the prices paid index posted its first positive number in 10 months.
"Outlook indexes were mixed after notable improvement in December. The indexes for number of employees, materials and finished goods inventories, and prices rose slightly, and the shipment index showed little change. The production index fell slightly while the indexes for new orders, backlogs and capital expenditures declined more steeply.
(through January 1999)