2017 Economic Calendar
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Dallas Fed Mfg Survey  
Released On 5/30/2017 10:30:00 AM For May, 2017
PriorConsensusConsensus RangeActual
Production Index15.4 23.3 
General Activity Index16.8 15.4 6.0  to 20.0 17.2 

Texas isn't holding back the national factory sector as the general activity index for May beats expectations at 17.2. This is the seventh straight month of significant strength for this index which fell deeply into the minus column after the 2014 collapse in oil prices.

Production shows special strength this month, at 23.3 for a monthly gain of nearly 9 points. Employment is solid at 8.3 with hours worked posting a 6-year high at 15.7 in a reading that points to rising employment ahead. Order readings are also strong, at 18.1 for new orders and 8.1 for unfilled orders. Wage pressures are, not surprisingly, on the rise though pressures for input costs and selling prices are easing somewhat.

This report is only one among a whole range of regional reports where enormous strength has yet to pan out to enormous strength in national factory data. Watch Thursday for the ISM report and Friday for factory payrolls in the employment report.

Consensus Outlook
Reflecting recovery in the energy sector, the Dallas Fed general activity index has emerged from 2-1/2 years of deep contraction with surging strength this year. Forecasters see the general activity index for May holding steady at a very strong 15.4 vs April's 16.8.

The Dallas Fed Manufacturing Survey tracks factory activity in Texas on a monthly basis. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Responses are aggregated into balance indexes where positive values generally indicate growth while negative values generally indicate contraction. About 100 manufacturers regularly participate in the survey.  Why Investors Care

2017 Release Schedule
Released On: 1/302/273/274/245/306/267/318/289/2510/3011/2712/26
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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