- Manufacturing activity in Texas unexpectedly weakens in October.
- US Dollar Index showed no reaction to the data.
The Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey on Monday revealed that the general business activity index slumped to -5.1 in October from 1.5 in September to show contraction in the economic activity in the region’s manufacturing sector. This reading also came in worse than the market expectation of 1.4.
The US Dollar Index largely ignored this data and was last seen moving sideways in its daily range above the 97.70 handle.
“Texas factory activity continued to expand in October, albeit at a markedly slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey,” Dallas Fed noted in its press release.
“The production index, a key measure of state manufacturing conditions, fell nine points to 4.5, suggesting a moderation in output growth in October.”
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