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Dallas Fed manufacturing index climbs more than expected
(Ronald Martinez/Getty Images)
A Dallas Cowboys fan.
The Dallas Fed manufacturing index came in at -4.9 for November, better than expected.
Economists had forecast that, remaining negative for an eleventh straight month, the index climbed to -10, from -12.7 prior.
Business executives said factory activity improved for a second straight month, as the production index rose to 5.2 from 4.8.
The new orders index rose by six points to 1.6, while the employment index jumped to 11.6, the highest since August 2014.
But price indexes stayed negative, as they have been for most of the year.
One survey respondent in machinery manufacturing was able to weather the oil-industry slowdown and increase sales by simply steering clear of it. Another business said that although bookings from the off-shore oil industry were strong in the past three months, it was prepping for layoffs next year amid all the uncertainty.
(Dallas Fed)
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