Huge beat: the Dallas Fed’s manufacturing index came in at +6.8 per cent for December.
Analysts were expecting +1 per cent, according to Econoday.
The surge was mainly driven by the index’s “company outlook” component.
That exploded 14 points to +9.2 per cent.
It’s the highest company outlook print since March.
Here’s that chart:
Photo: Dallas Fed
November’s overall print had come in at an unexpectedly nasty -2.8.
December’s other components were more mixed.
The production index rose from 1.7 to 2.7, “consistent with slow growth,” according to the report.
The employment index came in at -1, its lowest reading in over two years. The same share of companies reporting hirings as firings — about 17 per cent.
But: Expectations regarding future business conditions improved sharply to +7.9 per cent compared with -5.3 last month. The share of contacts reporting worsened future expectations fell from 25 to 14 per cent.
Finished good prices showed little movement on the month, falling from 9 to -0.2.