Federal Reserve Bank of Kansas City (06/25/15)

Manufacturing activity in the Plains states declined at a slightly slower pace in June than in May, and producers’ expectations improved modestly. The month-to-month composite index was -9 in June, up from -13 in May. Durable goods manufacturing improved slightly, although still negative, particularly for aircraft products and parts. However, nondurable goods production fell broadly across all types of plants. Production fell in all district states except for Colorado, but continued to be most negative in energy-concentrated Oklahoma. The majority of other month-to-month indexes also remained negative. The production index contracted further from -13 to -21, its lowest level since February 2009. Also, the employment index fell back into negative territory after increasing last month.