- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
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Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
by Tom Moeller October 31, 2016
The Federal Reserve Bank of Dallas reported that its general activity index of factory sector activity in Texas remained slightly negative in October. The figure at -1.5, however, was improved versus the low of -34.6 in January. The production index declined to 6.7 following its September jump to 16.7. Hiring activity also eased. The employment index indicated little change in hiring activity after September's first positive reading since yearend 2015. Pricing power strengthened. The index of 1.2 for finished goods was the first positive reading since December 2014. The growth rate of new orders remained up from the expansion low in June.
Prospects for business activity eased with the reading for six months ahead falling to 4.8, its weakest value since June. The production reading improved slightly, however, to 33.0, its best level in three months. Optimism about the outlook for new orders also improved modestly. Continued caution showed up in employment prospects where the six-month ahead figure of 14.2 was at the lowest level since June. Expected wages & benefits recovered their September decline. Expectations for the length of the workweek deteriorated sharply to the lowest point since May.
The diffusion indexes are calculated as the percentage of total respondents reporting increases minus the percentage reporting declines. The data can be found in Haver's SURVEYS database.
|Dallas Federal Reserve Texas Manufacturing Survey (SA, Percent Balance)||Oct||Sep||Aug||Oct '15||2015||2014||2013|
|General Business Activity Versus One Month Ago||-1.5||-3.7||-6.2||-13.8||-12.5||8.3||2.2|
|Growth Rate of New Orders||-5.1||-5.8||2.1||-7.0||-11.8||4.7||0.1|
|Number of Employees||0.2||2.3||-5.0||-1.3||-0.4||11.5||5.7|
|Prices Received for Finished Goods||1.2||-0.9||-1.3||-8.9||-8.5||8.3||2.9|
|Business Activity in Six Months||4.8||9.3||7.0||4.6||4.1||17.4||11.0|
|Future New Orders Growth Rate||23.5||19.1||27.2||19.7||20.7||31.5||25.1|
|Number of Employees||14.2||14.5||21.7||18.1||14.6||28.6||23.1|
|Wages & Benefits||36.4||31.2||38.1||33.4||33.2||43.1||38.2|