EconSouth (Fourth Quarter 1999)
Southeastern Manufacturing Survey
Below are highlights from the monthly survey of Southeastern manufacturers conducted by the Federal Reserve Bank of Atlanta in November.•Current indicators of manufacturing activity in the region in October showed an upward shift in production, shipments and inventories, possibly to meet Y2K-related requests.
•The current production index rebounded to 16.4 from 11.5 in September.
•Other current activity indicators suggest moderate underlying momentum for the region's manufacturing sector. Production may be concentrated on immediate shipments as the shipments index jumped to 23.9 from 16.5 in September. Current inventory indexes rebounded weakly to more typical levels as manufacturers appear to be trying to keep inventories from declining further.
•Outlook indexes were flat or slipped incrementally in October. Despite some slippage in the majority of outlook indexes, the number of employees outlook index rose slightly, suggesting a mild vote of confidence by manufacturers for orders and production next year.
•For both the current and outlook series, prices paid indexes declined in October after three strong months. The outlook index for prices received rebounded to a recent high even though the current prices received index declined moderately.
(through October 1999)