US DATA: May Dallas Fed mfg outlook -7.4 vs 10.5 Apr. Text says
“Texas factory activity increased in May, according to business
executives responding to the Texas Manufacturing Outlook Survey. The
production index, a key measure of state manufacturing conditions, rose
from 8 to 13 with 27 percent of respondents noting output increased from
April. Other measures of current manufacturing conditions also indicated
growing activity, although the pace of new orders slowed. The capacity
utilization index edged up from its April level, while the shipments
index held steady at a reading of 8. The new orders index moved down
from 4 to 1, with the share of manufacturers reporting increased order
volumes falling from 30 percent to 22 percent. The growth rate of orders
index turned negative after six months of positive readings. For all
indicators, there was a significant rise in the percentage of firms
noting no change from the prior month.”