From the Kansas City Fed: Survey of Tenth District Manufacturing
Growth in Tenth District manufacturing activity accelerated rapidly in March, posting a record high for the second straight month. Expectations moderated slightly from last month, but still remained solid. Price indexes for raw materials reached historically high levels, and more firms indicated plans to pass cost increases on to customers.
The month-over-month composite index was 27 in March, up from 19 in February and 7 in January. This reading set a new all time survey high. … The employment index inched higher from 23 to 25, also a new survey record.
This is the last of the regional Fed surveys for January. The regional surveys provide a hint about the ISM manufacturing index, as the following graph shows.
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