- Egypt: IP (Feb)
- US: Regional Payroll Employment (Mar)
- US: GDP by Industry (Q4)
- Realtors Confidence Index Survey (Mar)
- US: Existing Home Sales (Mar)
- Manufacturing Survey - Markit US (Flash - Mar), Composite and Services Survey - Markit US (Flash - Mar)
- Mexico: National Employment Survey(Mar)
- *Switzerland: House Price Index - Rebased to Q1-2000=100 (Q1)*
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Economy in Brief
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U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller March 27, 2017
The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March, but remained near the highest level of the economic expansion. The production reading improved as did the growth rate of new orders and delivery times (slower). The shipments reading eased. The employment figure fell m/m, but remained near the 2015 high. The wages & benefits series remained firm.
As for inflation, the finished goods prices paid indicator retreated following its February jump, while the raw materials prices index also eased.
The General Business Activity, Six Months Ahead Index held near its 12-year high. Expected production and new orders both declined, but shipments notched higher. Expected employment and hours worked both fell sharply, but wages & benefits held steady m/m, though the readings were up sharply versus 2015.
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)||Mar||Feb||Jan||Mar'16||2016||2015||2014|
|Current General Business Activity Index||16.9||24.5||22.1||-12.7||-8.8||-12.5||8.4|
|Growth Rate of Orders||3.2||2.0||6.7||-11.5||-7.3||-11.8||4.7|
|Number of Employees||8.4||9.6||6.1||-11.3||-4.9||-0.4||11.5|
|Prices Received for Finished Goods||7.5||19.5||17.7||-8.0||-1.6||-8.5||8.3|
|General Business Activity Index Expected in Six Months||36.3||37.0||43.7||6.7||8.9||4.1||17.4|
|Growth Rate of New Orders||38.3||39.9||48.4||17.3||24.3||20.7||31.5|
|Wages & Benefits||45.0||45.0||42.5||34.7||34.8||33.2||43.1|