KC Fed: Manufacturing Index Up Modestly in March

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Federal Reserve Bank of Kansas City’s March Manufacturing Survey indicates continued moderate growth in manufacturing activity in the Tenth Federal Reserve District. The survey’s composite index increased to 11 in March from 5 in February and 0 in both January and December. Almost all of the component indexes (SA) of the survey improved m/m, but the new orders for export index fell to -4 in March from 0 in February. Notably, the employment index increased to 7 from -6 in the prior month. The six-month expectations indexes were mixed in March, with the composite expectations index increasing marginally to 16 from 15 in February, while the employment, capex, and new orders for export indices all fell m/m.

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