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Kansas City Fed: Manufacturing Activity Declined in August

Federal Reserve Bank of Kansas City (08/27/15)

Manufacturing activity in the Plains states declined moderately in August, similar to the pace of the previous few months, according to the Federal Reserve Bank of Kansas City. Producers cited weak oil and gas activity and the stronger dollar as key reasons for the continued decrease in activity.

The month-to-month composite index was -9 in August, down from -7 in July. The production index dropped from -5 to -16, and the new orders, shipments, and order backlog indexes also declined moderately. The new orders index edged higher from -10 to -4, and the employment index rebounded slightly after falling considerably last month.