Manufacturing activity remains weak in KC Fed’s seven-state region

Manufacturing activity in a seven-state region monitored by the Federal Reserve Bank of Kansas City remained weak in March, particularly for businesses in the oil and gas industry.

The Fed said Thursday its monthly manufacturing index stood at -6 this month, an improvement from a -12 reading in February and a -9 reading in January. The index tracks production, new orders, employment, supplier delivery time and raw materials inventory.

“Activity remained weak in most district states,” the report said.

One survey respondent said that “business levels for all categories seem to be dropping, including energy, commercial items and automotive.” Another said that “overall activity is a mixed bag … however we are seeing a lot of activity for potential new business opportunities.”

The Fed’s region covers Kansas, the northern part of Missouri, Nebraska, Colorado, Wyoming, Oklahoma and the northern half of New Mexico.

This story was originally published March 24, 2016 at 11:57 AM with the headline "Manufacturing activity remains weak in KC Fed’s seven-state region."