Global| Jul 29 2013Federal Reserve Bank of Dallas Activity Index Declines
by:Tom Moeller
|in:Economy in Brief
Summary
The Federal Reserve Bank of Dallas reported that its General Business Activity Index fell to 4.4 this month from 6.5 during June. The series, nevertheless, remained improved from its spring lows. Monthly deterioration in the index [...]
The Federal Reserve Bank of Dallas reported that its General Business Activity Index fell to 4.4 this month from 6.5 during June. The series, nevertheless, remained improved from its spring lows. Monthly deterioration in the index components was widespread in July including production, new orders and wages & benefits. Continuing higher, however, were the series covering employment, shipments and raw materials prices.
The index of business activity six months ahead likewise reversed some of its June improvement but remained improved from its earlier lows. That pattern was reflected in the company outlook, new orders and wages & benefits series. Continuing upward were the production, capacity utilization and employee workweek series.
Each index is calculated by subtracting the percentage reporting a decrease from the percentage reporting an increase. When all firms report that activity has increased, an index will register 100. An index will register -100 when all firms report a decrease. An index will be zero when the number of firms reporting an increase or decrease is equal. Items may not add up to 100% because of rounding.
Economic Shocks Reverberate in World of Interconnected Trade Ties from the Federal Reserve Bank of Dallas can be found here.
| Texas Manufacturing Outlook Survey | Jul | Jun | May | Jul '11 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| General Business Activity Index | 4.4 | 6.5 | -10.5 | -16.1 | -0.5 | -0.5 | 3.7 |
| Company Outlook | 4.5 | 13.3 | -6.8 | 1.7 | 4.2 | 6.8 | 9.3 |
| Production | 11.4 | 17.1 | 11.2 | 13.0 | 8.7 | 6.9 | 1.7 |
| New Orders Volume | 10.8 | 13.0 | 6.2 | 0.3 | 1.4 | 5.7 | 8.7 |
| Number of Employees | 9.3 | 0.2 | -6.3 | 12.2 | 11.8 | 8.9 | 4.8 |
| Prices Received for Finished Goods | -1.0 | -2.1 | -8.3 | -6.0 | 0.9 | 9.2 | -0.4 |
| Wages & Benefits | 16.4 | 20.0 | 14.0 | 23.5 | 16.7 | 14.5 | 8.7 |
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.
More Economy in Brief
