May 2015 KC Fed manufacturing index data report 21 May 2015
- Composite -13 vs -4 exp. Prior -7
- New orders -19 vs -12 prior
- Exports -9 vs -12 prior
- Employment -17 vs -18 prior
- Prices paid -6 vs -7 prior
- Pricesrec'd -4 vs -10 prior
Aircraft production took a hit, among others. That might be a warning for the next durable numbers
The comments from respondents don't strike me as warming either
"We had a good first quarter but the brakes have been applied since the start of May. Looks like our business will be
down compared to last May."
"It is becoming increasingly difficult to find qualified job candidates who are not carrying some form of personal baggage / problem."
"We are continuing to operate at full capacity but the volume of new orders has slowed significantly with the ongoing cutbacks in E&P expenditures."
"We laid off 8% of the workforce over the last two months. The low price of oil combined with dropping steel prices has caused adverse volatility in new orders and margins. The strong dollar is beginning to incent unabated dumping of product at prices that challenge our raw material cost from domestic sources. The cost and complexity of government regulation continues to steer even more resources and attention away from productive economic activities."
"The drop in oil prices has impacted our business severely for the worse."
"We see no end to the sudden slowdown in business. Our customers also see no turnaround. We have gone to a four-day
workweek and still struggle to keep our workers busy."
It's such crappy news we'd better all go and buy the buck ;-)