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- Dallas Fed Manufacturing Index declines less than expected in April
Dallas Fed Manufacturing Index declines less than expected in April
The Federal Reserve Bank of Dallas
reported its general business activity index for manufacturing in Texas dropped
to 2 in April from a revised 6.9 in the previous month (originally 8.3).
Economists had forecast the indicator to
decline to -2.6.
According to the report, the production index, a key
measure of state manufacturing conditions, edged up two points to 12.4,
indicating output growth accelerated slightly from March. At the same time, the
new orders index rose eight points to 9.8, and the capacity utilization index increased
to a seven-month high of 15.6, while the shipments index held rather steady at
6.3. The employment index dropped eight points to 4.6, its lowest
reading since the end of 2016.
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