US: Manufacturing activity expanded moderately - Kansas Fed

Eren Sengezer FXStreet

"The survey revealed that Tenth District manufacturing activity expanded moderately with solid expectations for future activity," Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, said on Thursday.

Key quotes:

We’ve now seen four months of steady gains following more rapid growth in factory activity earlier this year
Firms overall seem confident that moderate growth will continue
The production index tumbled from 23 to 4, and the shipments index fell into negative territory for the first time since August 2016
The month-over-month composite index was 10 in July, down slightly from 11 in June but up from 8 in May
The employment index remained solid, while the new orders index rose modestly, and the order backlog index also increased but remained negative

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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