FOR IMMEDIATE RELEASE
January 28, 2021
CONTACT: Pam Campbell
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the January Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity increased at a faster pace in January compared to a month ago and was similar to year ago levels. Expectations for future activity rose further.
“Regional factories reported more growth in January,” said Wilkerson. “COVID-19 vaccination is a key factor in manufacturers’ overall business outlook for 2021, but with less impact on hiring and capital spending in the near-term.”
Historical data, results from past surveys and release dates for future surveys can be found at www.kansascityfed.org/surveys/manufacturing-survey.
Due to the unique nature of the pandemic in 2020, historical seasonally adjusted data has not changed unlike in previous years. The volatile data observed in 2020 is not indicative of future seasonal trends and the Federal Reserve Bank of Kansas City will continue using the Census Bureau’s X-13 ARIMA SEATS seasonal adjustment protocol moving forward.
The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, encompassing the western third of Missouri; all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming; and the northern half of New Mexico. As part of the nation’s central bank, the Bank participates in setting national monetary policy, supervising and regulating numerous commercial banks and bank holding companies, and providing financial services to depository institutions. More information is available online at www.kansascityfed.org.