Manufacturing activity in a seven-state area that includes Kansas and part of Missouri picked up steam in July, the Federal Reserve Bank of Kansas City said Thursday.
The Fed said its monthly regional manufacturing index climbed to 9 this month from 6 in June. In May, however, the index was at 10. The index covers production, new orders, employment, supplier delivery time and raw materials costs.
The Fed also noted that future hiring and capital spending plans hit their highest levels in six months, reflecting optimism for future business.
Besides Kansas and the western part of Missouri, the Fed’s tenth district encompasses Nebraska, Colorado, Wyoming, Oklahoma and the northern half of New Mexico.