Kansas City Fed: Regional Manufacturing Flat in January
1/23 10:37 AM
Kansas City Fed: Regional Manufacturing Flat in January CRANBURY, N.J. (DTN) -- Kansas City Federal Reserve said manufacturing activity in the Tenth District was flat in January with raw material costs increasing from December and finished product prices declining, although companies within the region expect prices for finished products to increase in the next six months. "We are seeing our normal slowdown for the beginning of the year...we are expecting sales to increase as we move through the 1st quarter. We are feeling good about the future," states one company according to the Fed District Bank. "Our business is not doing poorly, it is just not as robust as it has been. The inventory burn...over the past 9 months, along with a significant drop in steel cost, made business and results softer than the prior couple of years...while results may not be what they were in 2018 and early 2019, we expect them to improve." (c) 2020 DTN. All rights reserved.
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