US DATA: Aug Dallas Fed Mfg Index -1.6 vs -13.2, Outlook +4.1 vs +1.6.
“Texas factory activity increased but at a slower pace in August,
according to business executives responding to the Texas Manufacturing
Outlook Survey. The production index, a key measure of state
manufacturing conditions, fell from 12 to 6.4, suggesting softer output
growth. Other indexes of current manufacturing activity also declined in
August. The new orders index edged down to a reading of zero, suggesting
flat demand. The capacity utilization index fell from 8.7 to 1.7,
reaching its lowest reading since April. Shipments declined slightly in
August; the index dipped into negative territory, with more than a
quarter of manufacturers noting a decrease in shipment volumes. Indexes
reflecting broader business conditions were mixed, but both increased
from last month. The general business activity index remained negative
but climbed nearly 12 points from -13.2 to -1.6. The company outlook
index was positive for the fourth month in a row and edged up to 4.1
from a reading of 1.6 in July.”