Thursday, July 28, 2011

Manufacturing slows in July

The Federal Reserve Bank of Kansas City today released its manufacturing survey of the Tenth District, which includes Colorado.

This is not directly related to housing, of course, but just as an FYI, here's the report summed up in a few sentences:

Growth in Tenth District manufacturing slowed in July after a solid rebound in June. However, producers remain generally upbeat about future activity. Price indexes were little changed from the previous month, though plans to raise selling prices eased somewhat.

The year-over-year factory indexes eased slightly, but remained at solid levels. The composite year-over-year index edged down from 31 to 24, and the production, new orders, shipments, and order backlog indexes also fell.

The employment index moved slightly lower after reaching a sixyear
high last month. The capital expenditures index eased from 13 to 8, while the new orders for exports index was basically unchanged.