US DATA: Nov Dallas Fed mfg index 3.2 vs 2.3. Text: “Texas factory
activity decreased in Nov. The production index, a key measure of state
manufacturing conditions, dipped from 4.1 to 5.1, registering its first
negative reading in two years. Other measures of current manufacturing
conditions also indicated contraction in November. The new orders index
suggested deterioration of demand, falling to -5.1 after a year in
positive territory. Eighteen percent of manufacturers noted increased
order volumes in November, compared with 23 percent noting a decrease.
The shipments index edged down from 2.7 to -1.1, suggesting the volume
of shipments fell slightly… More than 90 percent of manufacturers said
their outlooks were unchanged or improved from last month. Labor market
indicators reflected continued labor demand growth, albeit at a slower
pace. The employment index came in at 9, down from 15.1 in October.
Twenty-one percent of manufacturers reported hiring new workers, while
12 percent reported layoffs.”