From the Kansas City Fed: Tenth District Manufacturing Activity Declined Modestly
The Federal Reserve Bank of Kansas City released the May Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity declined modestly.
“Regional factory activity continued to drift down in May, as weakness in energy and agriculture-related manufacturing persisted,” said Wilkerson. “Still, firms expect a modest pickup in activity later this year.”
The month-over-month composite index was -5 in May, which is largely unchanged from April and March readings …
The Kansas City region was hit hard by lower oil prices.