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- Dallas Fed Manufacturing Index improves less than expected in July
Dallas Fed Manufacturing Index improves less than expected in July
The Federal
Reserve Bank of Dallas reported its general business activity index for
manufacturing in Texas rose to -6.2 in July from an unrevised -12.1 in June.
Economists had
forecast the indicator to increase to -5.0.
According to
the report, the production index, a key measure of state manufacturing
conditions, moved from 8.9 to 9.3, indicating output growth continued at
roughly the same pace as in June. At the same time, the new orders index edged
up to 5.5, while the capacity utilization index inched up to 11.2, and the
shipments index climbed nine points to 10.2. The employment index rose seven
points to 16.0, suggesting robust growth in employment. Expectations regarding
future business conditions improved in July as well, with the index of future
general business activity rising nine points to 6.0 and the index of future
company outlook increasing six points to 9.1.
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