Kansas Fed: Manufacturing activity expanded at a slightly slower pace in August
|"Tenth District manufacturing activity expanded at a slightly slower pace in August, with the composite index dropping back to around the rates of growth that prevailed in late 2017 and early 2018," the Federal Reserve Bank of Dallas announced on Thursday.
Key quotes from the official publication
- The month-over-month composite index was 14 in August, down from readings of 23 in July and 28 in June.
- Expectations for future growth remained solid, despite continued concerns about trade and tariffs.
- The production, new orders, employment, and new orders for exports indexes all decreased modestly.
- In contrast, the shipments index rose from 12 to 18 after falling considerably last month.
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