Dallas Fed Manufacturing Index Crushes Expectations

Dirk Nowitzki

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:

dallas fed december 2012

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.

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