US: Dallas Fed Manufacturing Index rebounds to -49.2 in May
|- Dallas Fed Manufacturing Index recovered from record lows in May.
- US Dollar Index stays within a touching distance of 99.00.
The economic activity in Texas' manufacturing sector continued to decline in May with the General Business Activity Index of the Federal Reserve Bank of Dallas' Manufacturing Outlook Survey coming in at -49.2.
However, this reading followed April's all-time low of -74 to suggest that the contraction occurred at a softer pace.
Further details of the report revealed that the New Orders Index rose by 38 points to -30.6 and the Employment Index recovered from -22 to -11.5.
"Expectations regarding future business conditions were mixed in May," Dallas Fed said. "The index of future general business activity remained negative but rose 24 points to -19.0. Most indexes for future manufacturing activity returned to positive territory, rebounding notably in May."
Market reaction
The US Dollar Index edged slightly lower after this data and was last seen losing 0.77% on the day at 99.04.
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