- Prior month -2.3
- Dallas Fed Manufacturing Business index for May 0.40 vs -2.30 last month.
Details of the report:
- Production index fell 10 points to 9.4, still signaling modest manufacturing expansion.
- Capacity utilization index dropped 15 points to 5.2.
- New orders index declined 4 points to 6.4.
- Shipments index fell 8 points to 7.4.
- General business activity index edged up to 0.4 from negative territory, signaling little change in overall activity.
- Company outlook index slipped to 0.3 from 3.0, indicating stable business sentiment.
- Outlook uncertainty index held relatively steady at 19.2, remaining above the long-run average of 16.9.
- Employment index was unchanged at 0.2, pointing to flat payroll growth.
- Hours worked index declined to 1.8 from 4.0.
- Raw materials prices index rose 6 points to 42.7, the highest level in eight months.
- Finished goods prices index fell 9 points to 18.9, signaling easing selling price pressures.
- Wages and benefits index was little changed at 23.6.
- Future production index remained strong at 36.8, signaling expectations for stronger activity six months ahead.
- Future general business activity index held steady at 14.3.
- Other future manufacturing activity indexes also remained in positive territory
Looking at the gainers and decliners:
- Indexes that increased: 5
- General business activity
- Raw materials prices
- Outlook uncertainty
- Future production
- Future manufacturing activity indexes remained positive/stable
- Indexes that declined: 8
- Production
- Capacity utilization
- New orders
- Shipments
- Company outlook
- Hours worked
- Finished goods prices
- Employment (flat/slightly weaker tone)
- Indexes essentially unchanged/stable: 4
- Employment index
- Wages and benefits
- Future general business activity
- Broader business conditions overall
The Nasdaq 100 traded to 30K for the first time ever. The Nasdaq composite index is up 1.37%. The S&P is up 0.80%. The Dow is now in negative territory at 50574 after trading as high as 50791.08.
For the full report, CLICK HERE
This article was written by Greg Michalowski at investinglive.com.
