The Dallas Fed says its manufacturing survey came in at 0.3.

Expectations were for a reading of 3.0 against 3.8 prior.

About half of the industries surveyed cited inclement weather as a near-term headwind.

“The extreme weather throughout the U.S. impacted our ability to receive components needed in our manufacturing process. Weather also impacted revenue, as customers are unable to deploy products, resulting in increased inventory in the distribution channels and reduced requirements for manufacturing,” said someone in the fabricated metal manufacturing industry.

Production actually ticked upward:

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