fedgazette

2004 Summer Manufacturing Business Conditions Survey Results

Total Ninth Federal Reserve District--State Comparison

Published September 1, 2004  |  September 2004 issue

Diffusion Index*

Compared to the second half of 2003,
in the first half of 2004 your location's:
  District U.P. MN MT ND SD WI
Number of orders
69
69
64
75
70
74
69
Product/service production level
69
71
64
75
74
73
70
Employment level
59
59
54
60
62
64
60
Investment in plant/equipment
58
72
54
58
59
58
60
Prices
70
78
66
70
80
72
69
Productivity
67
80
62
71
72
69
56
Profits
52
54
43
62
59
60
56
Exports**
62
67
60
63
71
58
66
 
Compared to the first half of 2004,
during the next six months you expect your location's:
  District U.P. MN MT ND SD WI
Number of orders
66
72
65
71
72
60
68
Product/service production level
65
72
64
66
67
62
66
Employment level
57
63
56
55
61
53
58
Investment in plant/equipment
56
59
52
58
60
56
60
Prices
64
72
63
62
70
62
66
Productivity
64
76
61
65
63
64
69
Profits
56
57
54
60
56
49
60
Exports**
60
100 
62
57
59
54
60
 
What is your outlook on the following
state economic indicators during the next six months:
  District U.P. MN MT ND SD WI
Business investment
61
67
58
62
68
59
68
Employment
63
69
63
60
67
60
65
Consumer spending
57
65
55
60
60
55
61
Inflation
79
83
79
78
81
81
75
Economic growth
66
70
64
69
64
67
69
Corporate profits
58
56
57
60
57
53
61

*A number above 50 indicates expansion and a number below 50 represents contraction. Computed by taking the percentage of respondents that reported "up" and half the percentage of the respondents that reported "same."

** A majority of respondents left this question blank.


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Narayana Kocherlakota

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