Fed: Manufacturing activity increases in August

The Kansas City Federal Reserve Bank said manufacturing activity in its 10th District expanded at a faster pace and expectations remained solid.

The Fed said in its August survey of manufacturers in the region, factories reported acceleration in activity to the fastest pace since March.

The survey’s month-over-month composite index was 16 in August, up from 10 in July and 11 in June. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes.

Manufacturers of durable goods reported solid increases in factory activity, especially those making electronics, metals and aircraft products, the Fed said. Nondurable goods producers saw a modest rise in activity.

The 10th District encompasses Colorado, Kansas, Nebraska, Oklahoma, Wyoming, the western third of Missouri and northern New Mexico.

This story was originally published August 24, 2017 at 11:20 AM with the headline "Fed: Manufacturing activity increases in August."