By Allison Prang
An indicator of manufacturing activity for the middle of the U.S. fell to its lowest level ever this month, according to the Federal Reserve Bank of Kansas City, but sentiments looking out improved.
The manufacturing survey for the Tenth District -- which includes Wyoming, Oklahoma, Colorado, Kansas, Nebraska and chunks of New Mexico and Missouri -- had a composite index of negative 30, compared with negative 17 last month. Kansas City Fed economist Chad Wilkerson said with the results the measurement was the lowest ever for the survey, which started in 1994.
Almost every gauge of manufacturing activity worsened, moving further into the negative from a negative reading in March as well. The indicator for supplier delivery time rose to 26, up from 13, and the indicator for inventories of finished goods stayed the same at negative 16.
The composite index that measures expectations six months ahead improved to negative six, up from negative 19 last month. Many of those future indexes improved but stayed negative. Future indexes measuring prices received for finished product and prices paid for raw materials both rose from March negative readings to positive numbers in April. The future index for supplier delivery time was the same as March at 8.
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(END) Dow Jones Newswires
April 23, 2020 11:38 ET (15:38 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.