2017 Economic Calendar
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Dallas Fed Mfg Survey  
Released On 9/25/2017 10:30:00 AM For Sep, 2017
PriorConsensusConsensus RangeActual
Production Index20.3 19.5 
General Activity Index17.0 12.0 8.0  to 14.3 21.3 

Highlights
Hurricane Harvey didn't slow down Texas manufacturing at all based on the Dallas Fed's September report which is led by a strong 4.3 point gain in the general activity index to 21.3 for the best result in 7 months. Readings throughout the report are far above zero to indicate robust month-to-month growth: production 19.5 in September vs 20.3 in August, new orders 18.6 vs 14.3, hours worked 18.4 vs 14.4.

Employment is a special highlight, at 16.3 vs 9.9 to indicate the sharpest rate of hiring in nearly 3-1/2 years. There is an indication of price pressures likely tied to Harvey and its effect on petroleum costs as prices paid rose to 34.9 vs 26.9 for the highest reading since July 2011.

The report includes special questions regarding Harvey and among the results, 41 percent say the hurricane had negative effects on revenue and production though only 6 percent see the impact over the next 6 months as significantly negative while 46 percent see no long term effect. And 69 percent see no effect on future employment.

The economy will be lucky if Hurricane Irma's impact on Florida proves as light as Harvey's hit on Texas, at least based on today's report where responses are voluntary and sample sizes can be as low as 100.

Consensus Outlook
The Dallas Fed manufacturing report will get close attention as its results will offer a direct assessment of Hurricane Harvey's impact on the state. This report had been very strong going into the hurricane with orders, production, and hiring all showing gains. Econoday's consensus for September's general activity index is 12.0 and down from 17.0 in August.

Definition
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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