KC Fed: Manufacturing Survey Indexes Increased in February

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According to the Federal Reserve Bank of Kansas City’s most recent survey, manufacturing activity in the Tenth Federal Reserve District increased in February. The survey’s composite index increased to 5 in February from 0 in both January and December. Almost all of the component indexes (SA) of the survey including production, shipments, and new orders improved m/m, but the employment index fell to -6 in February from 0 in January. However, the average workweek increased slightly from 4 to 6. The six-month expectations indexes all increased measurably in February. The composite expectations index increased to 15 from 7 in January, while the employment index rose to 22 from 3, and the capex index gained 8 points to 13. 

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