Manufacturing activity in the region picked up slightly in November, despite sluggish conditions in the energy industry, the Federal Reserve Bank of Kansas City said Friday.
The Kansas City Fed said its monthly manufacturing index posted a reading of 1 this month, up from minus-1 in October and minus-8 in September. The index monitors production, new orders, employment, supplier delivery time and raw materials costs in a seven-state area that includes Kansas and the northern part of Missouri.
The November number was the first time the index had moved into positive territory since February. “Some segments of durable manufacturing improved even as activity in our energy states remained sluggish,” said Chad Wilkerson, vice president and economist at the Kansas City Fed.
Wilkerson said factory managers’ expectations for future business “improved considerably” this month.
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The survey also covers Nebraska, Oklahoma, Colorado, Wyoming and part of New Mexico.