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Growth in Midwest Manufacturing Activity Slowed Somewhat

Federal Reserve Bank of Kansas City (06/26/14)

The Federal Reserve Bank of Kansas City’s June Manufacturing Survey shows slowing activity in the 10th District, with the month-to-month composite index falling from 10 in May to six in June. The production, new orders, employment, and new orders for exports indexes also decreased, while the order backlog index hit a seven-month high.

“We saw some moderation in factory growth in June and many contacts mentioned difficulties finding qualified workers,” says Chad Wilkerson, vice president and economist at the Kansas City Fed. “However, many respondents noted solid expectations for future months.”