“Tenth District manufacturing activity continued to expand at a rapid pace in June, with the composite index similar to May’s record-high reading,” the Federal Reserve Bank of Kansas City reported on Thursday.
Key takeaways from the official press release
- The month-over-month composite index was 28 in June, similar to the reading of 29 in May and higher than 26 in April.
- The production index edged down from 41 to 38, and the volume of shipments and new orders for exports indexes eased slightly.
- The employment index was unchanged, while the new orders and order backlog indexes saw a modest decline.
- The raw materials inventory index improved from 19 to 27, and the finished goods inventory index also increased.
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