2017 Economic Calendar
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Dallas Fed Mfg Survey  
Released On 12/26/2017 10:30:00 AM For Dec, 2017
PriorConsensusConsensus RangeActual
Production Index15.1 32.8 
General Activity Index19.4 20.0 18.0  to 22.0 29.7 

Regional factory reports, in some contrast to government data at the national level, continue to run at unusually strong rates of growth including the Dallas Fed's general activity index which is up more than 10 points in December's data to a much stronger-than-expected 29.7.

New orders keep pouring in, also up more than 10 points to 30.1, and unfilled orders continue to build, at 9.2 which is strong for this reading, as manufacturers in the region struggle to keep up with demand. Hints of constraints include long delivery delays, elevated prices for inputs and traction for finished prices, a sharp rise in hours worked and also wages & benefits, and a jump in employment which is up nearly 15 points to 20.4. Manufacturers in the region are increasing capital spending as capacity utilization continues to climb.

Yet the strength of the Dallas Fed, along with similar reports, has not panned out to quite the same strength for factory orders, which have been solid but still mixed, nor the manufacturing component of the industrial production report which also has been mixed. Still, the factory sector is on the rise and looks to be an important contributor to fourth-quarter growth.

Consensus Outlook
Readings on costs and production cooled to more sustainable levels in the November manufacturing report from the Dallas Fed though new orders remained very strong in what points to continued strains on capacity. Econoday's consensus for the general activity index in December is 20.0 vs November's 19.4.

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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