Regional manufacturing data from the Kansas City Fed for February 2016
- Composite -12 vs -6 exp. Prior -9
- Employment -20 vs -7 prior
- New orders -15 vs -27 prior
- Prices paid -11 vs -4 prior
- Prices rec'd -17 vs -15 prior
- Exports -6 vs +1 prior
Interesting reading in the comments. It's 'suck it up and see' from some folks and a heavy dose of pessimism from others.
SELECTED COMMENTS
"As the price of oil continues to hover around the $30 range, measures are necessary to insure competiveness. Efficiencies are essential in a market such as this."
"Anything energy related shows no signs of life and we have low expectations into the future. We are operating at a low level and are planning to exist at that level for the foreseeable future. In the midst of this difficult environment, our costs continue to increase in response to laws, regulations and government activity."
"We have chosen to take lower margins in order to keep our manufacturing facility open. These were larger projects so they helped volume."
"Business is off at levels not seen since the recession of the early 1980's."
"Sales seem to be strong at times but not steady. A lack of confidence in the economy and stock markets seem to be having an effect on our market segment."
"We are starting off to a very slow year. Shipments are down 22% compared to last year. Margins are decreasing. We don't know how our competitors keep lowering prices, as this is not good for the long haul."
"Our international business remains flat to 2015, which was down 30% from 2014. We don't expect to see international sales increase significantly in 2016."
"We are finding longer lead times than normal from our suppliers. Everyone seems to be shipping on a Just-In-Time basis. Any equipment we need seems to take twice as long since no one is keeping inventory on hand, it is made to order. I would expect this is only going to get worse as everyone controls inventory cost."
Not the best of months for US manufacturing so far and we get the big ISM next week
