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- Dallas Fed Manufacturing Index improves to -6.1 in June
Dallas Fed Manufacturing Index improves to -6.1 in June
The Federal
Reserve Bank of Dallas reported its general business activity index for manufacturing
in Texas rose to -6.1 in June from an unrevised -49.2 in May.
According to
the report, the production index, a key measure of state manufacturing
conditions, surged from -28.0 in May to 13.6 in June, indicating moderate
expansion in output following three months of record or near-record declines. The
new orders index climbed 34 points to 2.9 in June, recording its first positive
reading in four months, with nearly a third of manufacturers noting an increase
in orders. The capacity utilization and shipments indexes also returned to
positive territory. Meanwhile, the employment index rose 10 points to -1.5, but
remained negative. Elsewhere, perceptions of broader business conditions were
mixed in June. The general business activity index surged 43 points but stayed
negative at -6.1. The index measuring uncertainty regarding companies’ outlooks
retreated notably again to 9.1, its lowest reading since January.
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