United States Dallas Fed Manufacturing Index
Dec 31, 2023
Feb 26, 2024
Time to Release
27 Days 15 Hours
|Federal Reserve Bank of Dallas
The Dallas Fed Manufacturing Index measures the performance of manufacturing sector in the state of Texas. The index is derived from a survey of around 100 business executives and tracks variables such as output, employment, orders and prices. A reading above 0 indicates an expansion of the factory activity compared to the previous month; below 0 represents a contraction; while 0 indicates no change. Texas produces around 9.5 percent of manufacturing output in US. The state ranks second behind California in factory production and first as an exporter of manufactured goods.
The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas slipped 17 points to -27.4 in January 2024, the lowest in eight months, suggesting a deeper contraction during the month. The production index, a key measure of state manufacturing conditions, dropped 17 points to -15.4, marking its lowest reading since mid-2020. The new orders index ticked down from -10.1 to -12.5 in January, while the growth rate of orders index remained negative but pushed up eight points to -14.4. The capacity utilization index dropped to a multiyear low of -14.9, and the shipments index slipped 11 points to -16.6. The employment index moved down seven points to -9.7, its lowest reading since mid-2020. On the price front, wage and input costs continued to increase this month, while selling prices were flat. Looking forward, the future production index moved up 10 points to 21.7, and most other indexes pushed further positive as well.
United States Dallas Fed Manufacturing Index History
Last 12 readings