The Dallas Fed Manufacturing Index came in slight worse than expected for the month of July, measuring a -6.3 as opposed to the -5.0 that the market was expecting. Despite the fact that the result was worse than expected, it showed a vast improvement in the figure when compared to that of June, which had come in at -12.1.
Other data released with the Dallas Fed Manufacturing Index include:
The production index, which also showed a rebound by 0.4 points when compared with June’s numbers.
Shipments index, which accelerated by to 10.2; a 9 points increase.
Capacity utilization index, which also rose to 11.2.
The Dallas Fed Manufacturing Index is a measure of the general business activity for manufacturing in Texas and is conducted by the Federal Reserve Bank of Dallas. Though not a market moving news release, it forms part of the data used to measure the state of production in the US economy. The latest report may suggest that manufacturing in Texas may be picking up after a dismal run of form in the last three months.Don’t miss a beat! Follow us on Twitter.