The latest Manufacturing Survey taken by the Federal Reserve Bank of Kansas City shows slight improvement for the Tenth District which includes Oklahoma. The survey covers July and according to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to grow slightly after sharply decreasing in the spring.
Activity still remained well below year-ago levels, while expectations for future activity continued to improve slightly.
“Regional factory activity continued to expand slightly in July, but was still well below year-ago levels,” said Wilkerson. “Of those surveyed, 44% of firms said that their business costs have increased in the past 6 months, but expectations for future activity and employment continued to improve.”
Click here to view entire survey results.