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.