United States Dallas Fed Manufacturing Index

Last Release

Nov 30, 2024

Actual

-2.7

Units In

Points

-3

Frequency

Monthly

Next Release

Dec 30, 2024

Time to Release

1 Months 2 Days 17 Hours

Highest	Lowest	Average	Date Range	Source
48 Jun 2004	-72.2 Apr 2020	0.71 Points	2004-2024	Federal Reserve Bank of Dallas

The Dallas Fed Manufacturing Index measures the performance of manufacturing sector in the state of Texas. The index is derived from a survey of around 100 business executives and tracks variables such as output, employment, orders and prices. A reading above 0 indicates an expansion of the factory activity compared to the previous month; below 0 represents a contraction; while 0 indicates no change. Texas produces around 9.5 percent of manufacturing output in US. The state ranks second behind California in factory production and first as an exporter of manufactured goods.

Latest Updates

The Dallas Fed's Texas manufacturing activity index improved slightly to -2.7 in November 2024, from -3 in October, nearing forecasts of -2.4. This marked the smallest contraction since negative readings began in May 2022. The company outlook index rose to 5.8, its first positive reading since early 2022, while the outlook uncertainty index dropped to 5.9. However, the production index dropped sharply to near zero from 14.6, and the new orders index slid further to -11.9, signaling weak demand. Capacity utilization and shipments also turned negative at -4.8 and -5.9, respectively. Labor market data showed increased hiring and steady workweeks. On the price front, the raw materials prices index moved up 12 points to 28.5, and the finished goods prices index was largely unchanged at 8.8. The wages and benefits index slipped five points to 18.6. Lastly, Manufacturers expect increased activity in six months, with the future production index rising to a three-year high of 44.0.