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.