After two months of declining confidence, the mood among manufacturers improved in August. Producer confidence stood at 0.4 versus -2.4 in July. Manufacturers were much more optimistic about their projected output over the three months to come.
Producer confidence consists of three component indicators: expected output in the next three months, producers’ opinions on stocks of finished products and their opinions on their order books.
Producers were much more optimistic about their future output than in July. Unlike in July, manufacturers expected their output to grow in August. Manufacturers’ opinions on their stocks of finished products also improved, though to a lesser degree. Opinions on their order positions hardly changed.
In August, the number of manufacturers expecting their selling prices to rise outnumbered those expecting prices to fall. Manufacturers were as negative about future employment as in July.
Producer confidence in manufacturing industry