Dallas Fed Manufacturing Index Missed Analyst Expectations
On April 24, the Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report, which indicated that Dallas Fed Manufacturing Index declined from -15.7 in March to -23.4 in April, compared to analyst consensus of -14.6.
According to the report, “perceptions of broader business conditions worsened notably in April.” The production index declined from 2.5 to 0.9, while the new orders index increased from -14.6 to -9.6.
The report also noted that “future production index plummeted from 13.5 to 3.0, with the low reading signaling little output growth over the next six months.”
Treasury yields moved lower after the release of the Dallas Fed Manufacturing Index report as traders bet that Fed would…
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