Kansas City Fed Manufacturing Survey

Data Industry PMI

Source: Kansas City Fed
Source Link: https://www.kansascityfed.org/
Frequency: Monthly
Next Release(s): September 25th, 2025 11:00 AM

Latest Updates

The Kansas City Fed’s Tenth District Manufacturing Composite Index held steady at +1 in August 2025, unchanged from July and up from -2 in June, signaling broadly flat activity.
- Production improved to 0 (from -3), while the Number of Employees Index rose sharply to 0 (from -11), indicating stabilization in labor conditions.
- Shipments strengthened to +6 (from +3), though the Backlog of Orders remained deeply negative at -15 (from -30), reflecting weak demand momentum.
- The Average Employee Workweek turned positive at +3 (from -9), showing modest gains in hours worked.
- Prices Paid for Raw Materials eased to +37 (from +41), but Prices Received for Finished Products edged higher to +21 (from +18).
- New Orders for Exports stayed weak at -15 (from -13), while Materials Inventories slipped to -7 (from +8), pointing to leaner supply management.
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The Kansas City Fed’s Tenth District Manufacturing Composite Index rose to +1 in July 2025 from -2 in June, signaling a slight improvement in activity despite broad sectoral weakness.
- Production dropped to -3 (from +5), while New Orders rose to -2 (from -9) and Shipments improved to +3 (from -6).
- Backlog of Orders plunged to -30 (from -11), the lowest reading in over a year.
- Employment softened further, with the Number of Employees Index at -11 (from -8), and the Average Workweek down to -18.
- Input cost pressures remained elevated, with Prices Paid for Raw Materials at +47 (up from +34), while Prices Received for Finished Products eased to +6 (from +9).
- Export orders remained weak at -15, and Inventories of Materials remained deeply negative at -17.
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The Kansas City Fed’s Tenth District Manufacturing Composite Index edged up 1 pt to -2 in June 2025, signaling continued contraction but slight improvement from May (-3) and April (-4).
- The Production Index rebounded to +5 (from -10), while Shipments rose to +6 (from -8). Both indicated that activity improved significantly in June.
- New Orders declined to -15 (from -12), and the Backlog of Orders dropped to -11 (from -8).
- Employment remained weak with the Number of Employees Index at -8 and Average Workweek at -12.
- Prices Paid for Raw Materials rose to +28 (from +19), and Prices Received for Finished Products increased to +21 (from +17), signaling renewed input and output price pressure.
- New Orders for Exports remained deeply negative at -20, indicating continued weakness in external demand.
- Firms’ future expectations improved, with the composite future index rising from 5 to 9, and one-third of firms reporting paused capital investment due to uncertainty.
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The Kansas City Fed’s Tenth District Manufacturing Composite Index ticked up 1 pt to -3 in May, indicating continued mild contraction in activity.
- The Production Index fell -5 pts to -10, its lowest since December 2023.
- New Orders declined -4 pts to -15, and the Backlog of Orders fell -3 pts to -23.
- The Number of Employees Index rose 4 pts to 3, the first positive reading since January.
- Prices Paid for Raw Materials dropped -9 pts to 19, easing from recent highs, while Prices Received also declined -4 pts to 6.
- New Orders for Exports fell sharply to -21, the lowest level in at least a year.
- About half of firms (52%) reported their hiring plans for the remainder of 2025 have not changed since the beginning of the year, while 34% expect them to decrease and 14% expect to increase hiring plans.
- 60% of firms have not changed their capital expenditures plans since the beginning of the year, while 30% expect them to decrease and 10% expect them to increase.
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The Kansas City Manufacturing Composite Index fell -2 pts to -4 in April indicating a moderate manufacturing decline.
- The Production index fell -6 pts to -5, and the New Orders index improved 1 pt to -11.
- The Number of Employees index dropped -7 pts to -11, the second lowest in more than two years.
- Prices Paid remained elevated at 42, the highest in around two years, and the Prices Received index jumped 14 pts to 29, also a high for the last two years.
- The futures indicators for Prices Paid and Prices Received surged 14 pts and 20 pts to 59 and 71 respectively as over 60% of firms see increases in both in the next 6 months.
- The capital expenditures index fell into negative territory after increasing slightly last month.
- The future composite index eased from 10 to 6 in April as expectations for production, shipments, and new orders all decreased.
- Almost half of firms reported much more uncertainty about economic conditions compared to the beginning of this year. Approximately 42% of firms reported that there is more uncertainty, with 11% of firms reporting no change.
- 18% of firms reported that their product demand expectations were significantly lower than they were a few months ago, while 35% of firms stated that their expectations were slightly lower.
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The Kansas City Fed Manufacturing Composite Index was -2 in March, up from -5 in February.
- The Production index recovered 14 pts to 1, the highest and first positive reading since August 2024.
- The Shipments index also recovered but remained in a slight decline, up 7 pts to -4.
- While activity appeared to improve, the New Orders index fell -4 pts to -12, the largest decline so far in 2025.
- Prices Paid increased again, up 4 pts to 42, the largest upward pressure on input costs since September 2022.
- Prices Received fell slightly, down -2 pts to 15, but remained above 2024 levels.
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The Kansas City Fed Manufacturing Composite Index was -5 in February, unchanged from January.
- The Production index fell -4 pts to -13, and the Shipments index fell -5 pts to -11.
- New orders (-7) and order backlogs (-12) were both declining.
- The Number of Employees index fell sharply, down -15 pts to -14, the lowest since the beginning of the COVID pandemic.
- Prices Paid jumped 20 pts to 38, the highest since September 2022, but the Prices Received saw a more moderate increase of 3 pts to 17, the highest since April 2023.
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The Kansas City Fed Composite Index was -5 in January, unchanged from December. The Production index fell further from -5 to -9, indicating slightly lower activity. The volume of shipments and new orders were both declining at a moderate rate with readings of -6. Employment was basically unchanged with a slight edge to firms reporting lower staff levels. Prices received and paid were both increasing at solid rates with the respective indexes at 14 and 18, though over two-thirds of reporting firms reported no change in all prices.

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