The Federal Reserve Bank of Kansas City said its manufacturing index climbed to a reading of 10 this month, up from 7 in April and equal to 10 in March. The index measures production, new orders, employment, supplier delivery time and raw materials. Chad Wilkerson, vice president and economist at the Kansas City Fed, said the “solid growth at factories in the region followed some weather-related weakness in previous months.”
In addition to the boost in orders, Wilkerson said more companies reported raising prices in May compared with previous months. The survey covers a seven-state area including the northern half of Missouri.