The economic activity in Texas’ manufacturing sector recovered in November with the General Business Activity Index rising to -1.3 from -5.1 in October, the Federal Reserve Bank of Dallas’ latest Texas Manufacturing Outlook Survey revealed.
Although this reading came in better than the market expectation of -11.3, the US Dollar Index failed to capitalize on it and was last seen flat on the day at 98.27.
“Perceptions of broader business conditions worsened slightly in November. The general business activity index remained negative but moved up from -5.1 to -1.3,” the publication read. “The company outlook index fell 11 points to -2.1. Both indexes have oscillated between positive (expansionary) and negative (contractionary) territory this year, with the latest barely-negative readings suggesting modest contraction.”
“The index measuring uncertainty regarding companies’ outlooks moved up to 17.1, a reading well above average,” the Dallas Fed added.
Share
