Dallas Fed manufacturing index July 2022
  • Prior was -17.7
  • Output 3.8 vs 2.3 prior
  • New orders -9.2 vs -7.3 prior
  • Employment +17.9 vs +15.2 prior
  • Outlook -10.8 vs -20.2 prior
  • Prices paid for raw materials 38.4 vs 57.5 prior
  • Prices received 29.3 vs 33.8 prior
  • Wages 38.1 vs 49.9

The improvement in the outlook is notable and inflation metrics are improving.

The comments in the report are all over the place, with these two both coming from the chemical manufacturing industry:

  • The concerns of a looming recession have increased over the last month. With supply-chain issues continuing, the cost of raw materials remaining high and significant interest rate hikes, overall business activity has to slow. It is just a matter of when—which I believe is soon.
  • Business activity and sales remain solid. Our focus is pushing prices to recover margin.

Machinery manufacturing

  • We are starting to see weakness in incoming orders. We are preparing for a further slowdown but hoping for the best.

Other industries: