Kansas Fed Manufacturing Index Turns Negative
The Kansas City Fed's Manufacturing Production Index fell to -5 in November 2019 from +8 in the previous month and compared with market forecasts of +9. The composite index, an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes, was unchanged at -3, driven by slower activity at durable goods plants, especially from decreases in primary metal, fabricated metal products, machinery, and computer and electronic products manufacturing. The new orders and employment indexes remained negative and the materials inventory index declined further. However, the shipments and supplier delivery time indexes expanded somewhat.
3 hours ago