Lower than expectations.
The Kansas City Fed manufacturing activity index for October came in weaker than expected at 8 versus 14 estimate. That is below the 13 reading from last month as well.
- The reading is the lowest level since December 2016
- prices paid 33 versus 45 last month
- new orders 7 versus 15 last month
- new orders for exports 3 versus 1 last month
- production 5 versus 10 last month
- number of employees 8 versus 1 last month
- average employee workweek for versus 3 last month
- shipments 14 versus 2 last month
- the composite six-month outlook falls to 21 versus 27 last month
The index tracks sentiment among manufacturers in the Kansas City Fed’s district which includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, in the northern half of New Mexico and the western 3rd of Missouri