“Perceptions of broader business conditions improved in January. The general business activity index rebounded from a multiyear low of -5.1 in December to 1.0 in January,” the Federal Reserve Bank of Dallas reported in its Texas Manufacturing Outlook Survey.
Key takeaways from the press release
- This near-zero reading suggests manufacturers were fairly balanced in their assessment of whether activity had improved or worsened from last month.
- The company outlook index also rebounded from negative territory this month, rising more than 10 points to 7.1.
- The employment index retreated four points to 6.6, a two-year low.
- The raw materials price index slipped eight points to 21.2, and the wages and benefits index ticked down two points to 27.4.
- The indexes of future general business activity and future company outlook rose to 11.7 and 22.3, respectively.
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