U.S. Dallas Fed manufacturing index surged to 10.2 in November
U.S. Dallas Fed manufacturing index surged to 10.2 in November after rising 2.2 points to -1.5 in October. Though it's generally been on an improving trend since tumbling to -34.6 in January (the lowest since April 2009), the jump is much larger than expected. It's the first positive reading since December 2014 as the region is mending from its long recession resulting from the dive in oil prices in late 2015, and is the highest since July 2014. The employment index rose to 4.5 from 0.2, a third month in positive territory. The wage index increased to 18.4 from 16.4, but peaked in 2016 at 21.8 (May). New orders edged up to -1.4 from -3.5. Prices paid climbed to 18.2 from 13.7, with prices received at 8.0 from 1.2. The 6-month general business conditions rocketed to 31.6 from 4.8, far eclipsing the prior high for the year at 18.4 in July. The future employment index more than doubled to 30.6 from 14.2, with new orders at 48.1 from 32.2, prices paid at 34.2 from 25.9, and capital expenditures at 30.4 from 14.0.