- 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)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
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 January 30, 2017
The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index surged to 22.1 during January, the strongest reading since March 2010. Most of the survey indicators improved, notably the volume of new orders, their growth rate and shipments volume. Employment also reached the highest level in just over a year, and the workweek reading surged. Another labor indicator, the wages & benefits series, rose to the highest level since September. As for inflation, the prices paid indicator surged to the highest level since April 2011, and prices for raw materials similarly strengthened.
The General Business Activity, Six Months Ahead Index also strengthened, rising to the best level since December 2004. The company outlook measure reached a 12-year high, and the expected business activity measure similarly improved. Expected production remained strong. The volume of new orders, and their expected growth rate rose sharply. Expected delivery times remained slow. Future employment hit the highest level since 2006, and the expected workweek remained high.
Each index is calculated by subtracting the percentage reporting a decrease from the percentage reporting an increase. When all firms report that activity has increased, an index will register 100. An index will register -100 when all firms report a decrease. An index will be zero when the number of firms reporting an increase or decrease is equal. Items may not add up to 100% because of rounding. Data for the Texas Manufacturing Outlook can be found in Haver's SURVEYS database.
|Texas Manufacturing Outlook Survey (SA, % Balance)||Jan||Dec||Nov||Jan'16||2016||2015||2014|
|Current General Business Activity Index||22.1||17.7||12.5||-35.8||-8.8||-12.5||8.4|
|Growth Rate of Orders||6.7||-1.1||1.6||-18.2||-7.3||-11.8||4.7|
|Number of Employees||6.1||-3.4||4.5||-5.2||-4.9||-0.4||11.5|
|Prices Received for Finished Goods||17.7||16.2||9.5||-10.1||-1.6||-8.5||8.3|
|General Business Activity Index Expected in Six Months||43.7||42.5||34.2||-25.3||8.9||4.1||17.4|
|Growth Rate of New Orders||48.4||36.0||42.8||-15.7||24.3||20.7||31.5|
|Wages & Benefits||42.5||43.6||41.0||28.0||34.8||33.2||43.1|