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Dallas Fed Manufacturing Index for October came below market expectations. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey declined to -19.4 in October versus the previous reading -17.2 in September.
The fresh figure is weaker than the market expectation of -15. Further details of the survey revealed that the Manufacturing Output Index fell to 6 from 9.3, the Employment Index improved to 17.1 from 15 and the Company Outlook Index edged higher to -9.1 from -10.7.
The US dollar preserves its strength following this report and the US Dollar Index was last seen rising 0.75% on the day at 111.50.
Growth in Texas factory activity continued in October, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, edged down three points to 6.0, suggesting a slight deceleration in output growth.
The new orders index slipped to -8.8―its fifth month in a row in negative territory, suggesting a continued decrease in demand. The growth rate of orders index also remained negative and dropped 12 points to -13.2.
