KC manufacturing activity on the rise
Kansas City manufacturing activity for the month of June saw large index increases from previous months.
Manufacturing activity in the Federal Reserve Bank of Kansas City's district showed positive signs of expansion for the month of June. The bank's production index rose to 9 from -3 in May. The index has risen greatly compared to a -44 index only a year ago in June 2008.
Other encouraging news includes the index covering production for the next six months rising to 13 from 1 in May. The June reading is the highest since August 2008, and reaches way above zero, which denotes contraction. The June shipments index also made the turn into green figures up to 6, improving vastly from a year ago. Although the June employment and prices paid indexes are still negative, they are both gaining ground towards breaking even.
The encouraging activity in the month of June for the Kansas City district's Fed has the US Dollar's exchange rate at GBP1.633 and EUR1.3946.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.