Dallas Manufacturing Indicator Falls To A Record Low - Forex News by FX Leaders

Dallas Manufacturing Indicator Falls To A Record Low

Posted Monday, April 27, 2020 by
Skerdian Meta • 1 min read

As the West remains in Shut-down for more than a month, the economy continues to head into a deep recession. Services have been hit the heaviest, since they are mostly closed as there are not many people going outside, apart from fundamental needs. But, manufacturing is also suffering and has fallen to the lowest levels ever. The Dallas FED manufacturing index fell to a record low in March at -70 points, but in April this indicator fell to -73.7 points. Below is the report.

 

Dallas FED Manufacturing Activity for April 2020

  • Dallas Fed manufacturing activity for April -73.7 vs -75.0 estimate him him
  • March saw the index plunge from 1.2 to -70.0.
  • Employment -21.2 versus -23.0 last month
  • New orders -67.0 versus -41.3 last month
  • Shipments -56.6 versus -33.8 last month
  • Prices paid -19.6 versus -5.9 last month
  • Prices received -24.6 versus -9.2 last month
  • Production -55.3 versus -35.3 last month
  • Growth rate of new orders -62.2 versus -44.9 last month
  • Unfilled orders -25.7 versus -22.4 last month
  • Delivery time -14.3 versus -3.0 last month
  • Inventories -8.8 versus -6.5 last month
  • Wages and benefits -2.7 versus +5.5 last month
  • Hours worked -40.2 versus -22.4 last month
  • Capital expenditures -54.3 versus -34.3 last month
  • Company outlook -62.6 versus -65.6 last month
All components with the exception of employment and company outlook declined.  The index is at the lowest level on record and the report is the worst ever. Everything is falling apart. But, at least, some countries are starting top reopen. May will be a different picture I think, but we won’t be out of the woods yet.

 

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