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.