2012 Economic Calendar
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Kansas City Fed Manufacturing Index  
Released On 9/27/2012 11:00:00 AM For Sep, 2012
PriorConsensusConsensus RangeActual
Level-2  to 9 

It turns out that not all regional Fed surveys are improving in September. The Kansas City Fed survey showed weakening, adding to concern from this morning's sharply negative durables orders report for August.

The Kansas City composite index eased to 2 from 8 in August. The consensus was for a reading of 5. However, the production index was more disappointing, declining to minus 4 from plus 7 in August. Momentum also slipped with the new orders index dropping to minus 2 from plus 11 in August. Part of the problem is weakness in export orders which remained in negative territory at minus 4 from minus 6 in August.

However, hiring is marginally positive at 1 in September versus 2 the month before. But plant managers are cutting back on hours worked as the workweek index fell to minus 13 from minus 5.

The latest Kansas City Fed report raises questions on whether the slowdown in manufacturing has yet to hit bottom. Of course, the bottom can vary by region and this may be the case.

Consensus Outlook
The Kansas City Fed manufacturing index in August posted at 8, up from 5 the prior month. Other indicators also were somewhat positive as the production index showed slightly stronger growth at 7 versus 2 in July. Shipments jumped to 12 in August from minus 3 the month before. The new orders and backlog index point to some pick up in forward momentum. New orders increased to 11 from minus 4. Backlogs gained to 4 from minus 10. However, the strength in new orders appears to be related to domestic demand as the export orders remained negative at minus 6 versus minus 13 in July.

The Kansas City Fed index offers a monthly assessment of change in the region's manufacturing sector. Positive readings indicate monthly growth and negative readings monthly contraction. Readings at zero indicate no change. The headline number is the composite index, an average of the production, new orders, employment, delivery time, and raw materials inventory indexes.  Why Investors Care

2012 Release Schedule
Released On: 1/262/233/294/265/246/287/268/309/2710/2511/2912/21
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