The Dallas Fed Manufacturing Business Index has improved 11.6 points in January, standing at -8.4 versus -20 in December (revised downward from -18.8). The result significantly improves the -16.6 points expected by the market consensus.
The indicator has remained negative for nine months. Today’s data is the best result seen in the last eight months. Perceptions of general business conditions continued to worsen in January, although pessimism moderated, the Dallas Fed reports in its statement.
Similarly, the business outlook index posted its 11th consecutive negative reading, but rose 11 points to -2.5. The outlook uncertainty index was broadly unchanged at 16.8.
Labor market measures pointed to a higher job growth and longer work weeks. The employment index rose four points to 17.6, a reading significantly above its series average of 7.9.
In general, the Price pressures remained stable and wage growth slowed slightly in january. The Commodity Price Index was largely stable at 20.5, staying below its series average of 28.0 for the third straight month.
Source: Fx Street
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