Manufacturing activity in the Kansas City Federal Reserve district continued to struggle in January, with a another decline in the central bank's manufacturing index for the region.
In January, all components remained below 0, indicating contraction at all levels.
Production improved by 4 points to -25 in January, while new orders improved 7 points to -23, and order backlogs moved lower by 9 points to -28.
However, the number of employees index fell back 7 points to -40, and inventory of materials moved down 5 points to -23.
Prices paid managed a slight improvement, rising to -26 from the prior month's -28 level.
The nationwide ISM manufacturing index, to be released this Monday, is expected to decline to 32.6 from 35.1 in December.
By Erik Kevin Franco and edited by Sarah Sussman
©CEP News Ltd. 2009