The Federal Reserve Bank of Kansas City published its March Manufacturing Survey, reporting that manufacturing activity in the Tenth District fell modestly and that expectations for future activity cooled but remained in expansionary territory. The decline was attributed to weaker nondurable manufacturing. Production was flat, employment continued to decline, and nearly half of surveyed firms reported tighter profit margins over the past 12 months. The March release also incorporates new seasonal adjustment factors using Census X-13 ARIMA-SEATS, meaning historical index values differ slightly from previously released figures; the updated seasonal factors will be used throughout 2025. Historical data, prior survey results, and scheduled release dates for upcoming surveys are available on the Kansas City Fed’s manufacturing survey webpage.
Federal Reserve Bank of Kansas City 2025-03-27
Federal Reserve Bank of Kansas City’s March Manufacturing Survey shows modest decline in Tenth District activity and cooler outlook
The Federal Reserve Bank of Kansas City's March Manufacturing Survey indicates a modest decline in Tenth District manufacturing activity, with future expectations cooling but still expansionary. The decline is linked to weaker nondurable manufacturing, flat production, and declining employment, with nearly half of firms experiencing tighter profit margins. The survey includes updated seasonal adjustment factors, affecting historical index values.