U.S. Dallas Fed's manufacturing index bounced 6.1 points to 1.0 in January
U.S. Dallas Fed's manufacturing index bounced 6.1 points to 1.0 in January after plunging 22.7 points to -5.1 in December (lowest since October 2016). This compares to a 17.0 6-month average. The index was 34.3 last January and hit a cycle high of 38.4 in last February. The employment component retreated to 6.6 (two-year low) from 11.0, with the workweek dipping to 3.6 from 5.0. New orders edged down to 11.6 from 14.4. Prices paid for raw materials fell further to 21.2 from 28.8 and was at 54.4 in October. Prices received for finished goods slipped to 6.4 from 6.6 and was at 22.9 in July. The 6-month general business activity index climbed to 11.7 from 3.2, with most components improving. The employment index rose to 39.4 from 28.2 and new orders to 44.7 from 32.4. But prices paid slid to 31.8 from 34.3, and prices received were steady at 26.7. The 6-month capx index was 34.2 from 24.7.