Lowest reading since May
The consensus estimate was -7.0, based on 8 guestimates in the Bloomberg survey. The Dallas area is home to the US oil industry.
It was the third consecutive decline.
From the release:
"The survey's demand measures showed continued weakness. New orders, an indicator of incoming demand, declined at a faster pace. The index has been below zero for five months and fell to -8.9 in December. The growth rate of orders index has been negative for more than a year and dipped 7 points to -14.3 this month. Meanwhile, the capacity utilization and shipments indexes posted their fourth positive readings in a row and inched up to 7.8 and 7.6, respectively.
Perceptions of broader business conditions weakened markedly in December. The general business activity index has been negative throughout 2015 and plunged to -20.1 this month. After pushing just above zero last month, the company outlook index fell 10 points in December to -9.7, its lowest level since August."
