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 conducts this monthly survey of manufacturers in Texas regarding their operations in the state. Participants from across the state represent a variety of industries. In the latter half of the month, the questions for the manufacturing survey are electronically transmitted to respondents and answers are collected over a few days. About 100 manufacturers regularly participate in the Dallas Fed survey, which began collecting data in mid-2004. Participants are asked whether various indicators have increased, decreased or remained unchanged. Answers cover changes over the previous month and expectations for activity six months into the future. The breakeven point for each index is zero with positive numbers indicating growth and negative numbers reflecting decline.  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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