Manufacturing activity in the Kansas City Federal Reserve Bank's 10th District matched an all-time survey high in February, the bank said today, and manufacturers are expecting strong activity in the months ahead.
The manufacturing survey's monthly composite index was 19, a level that hasn't been reached since early 2005, the Fed said. The composite index includes averages of production, new orders, employment, suppler delivery time and raw materials inventory indexes.
Growth in February factory activity was reported among durable and nondurable goods producers, the Fed said.
The bank said future factory indexes also rose considerably, with the future composite index climbing from 20 to 30, and the future production, shipments, new orders, and order backlog indexes also increasing.
The bank's 10th District includes Kansas.