KC Fed: Manufacturing Indexes Ease in April but Remain Positive

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Most of the components of the Federal Reserve Bank of Kansas City’s Manufacturing Survey dipped slightly in April but remained in positive territory. The survey’s top line composite index was reported at 10 for April compared to 11 in March and 5 in February, but this was still higher than the -2 reported for April 2025. Almost all of the component indexes (SA) of the survey were lower m/m except for prices paid and inventory. The only index to post negative was new orders for export, which came in at -3. Employee count fell to 2 in April from 7 in March. The six-month expectations indexes were mostly higher in April, but capex and average workweek fell slightly. Nevertheless, all of the expectation indexes were in positive territory in April.

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