US: Dallas Fed Manufacturing Index drops to 2 in April, falls short of market expectation of 10
|According to the Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, the manufacturing sector lost momentum in April with the general business activity index dropping to 2 from 6.9 (revised from 8.3) in March. This reading came in below the market expectation of 10. The US Dollar Index didn't react to the data and was last seen flat on the day at 98.06.
Key takeaways from the press release
- The production index, a key measure of state manufacturing conditions, ticked up two points to 12.4, indicating output growth accelerated slightly from March.
- The company outlook index climbed two points to 6.3.
- The employment index fell eight points to 4.6, its lowest reading since the end of 2016.
- The index of future general business activity remained at its March reading of 18.4, while the index of future company outlook edged up from 18.4 to 20.9.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.