Global| Oct 27 2014Dallas Fed Factory Sector Activity Index Remains Stable
by:Tom Moeller
|in:Economy in Brief
Summary
The Federal Reserve Bank of Dallas reported that its October Composite index of factory sector activity remained fairly stable at 10.5 following its m/m gain in September to 10.8. Nevertheless, the index was improved greatly from [...]
The Federal Reserve Bank of Dallas reported that its October Composite index of factory sector activity remained fairly stable at 10.5 following its m/m gain in September to 10.8. Nevertheless, the index was improved greatly from prior years. The volume of new orders, inventories and capital expenditures improved sharply m/m, while company outlooks improved to the best level in six months. The prices received index continued to run sideways though the wages & benefits index dipped following sharp improvement since the middle of last year.
The reading of expected conditions in six months also held roughly steady m/m but was down from the earlier nine months. The production outlook remained down as did the new orders, shipments, wages & benefits and employee workweek outlooks.
The diffusion indexes are calculated as the percentage of total respondents reporting increases minus the percentage reporting declines. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. The data can be found in Haver's SURVEYS database.
| Dallas Federal Reserve Manufacturing Survey (SA, Percent Balance) | Oct | Sep | Aug | Oct '13 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Business Activity Versus One Month Ago | 10.5 | 10.8 | 7.1 | 4.0 | 2.2 | -0.5 | -0.5 |
| New Orders Volume | 14.2 | 7.5 | 2.2 | 7.9 | 7.2 | 1.4 | 5.7 |
| Number of Employees | 10.2 | 10.6 | 11.1 | 10.1 | 5.6 | 11.8 | 8.9 |
| Prices Received for Finished Goods | 7.1 | 7.0 | 9.1 | 4.3 | 2.9 | 0.9 | 9.2 |
| Business Activity in Six Months | 13.3 | 12.1 | 18.7 | 9.5 | 11.0 | 7.6 | 10.0 |
| New Orders Volume | 38.1 | 34.6 | 45.3 | 26.8 | 34.3 | 29.5 | 37.1 |
| Wages & Benefits | 40.8 | 40.7 | 43.8 | 39.2 | 38.2 | 34.2 | 35.1 |
| Production | 41.2 | 40.0 | 44.5 | 26.7 | 37.1 | 32.4 | 40.2 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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