The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas rose to 13.1 in February of 2019 from 1 in January, beating market expectations of 4.8. It is the highest reading in three months, mainly due to a higher growth rate in orders (3.4 from 1.2) and a rise in employment (12.6 from 3.6), wages and benefits (28.9 from 27.4) and capital expenditures (18.7 from 16). On the other hand, slower increases were seen for production (10.1 from 14.5), new orders (6.9 from 11.6) and shipments (10.7 from 11.4). Also, prices received for finished goods slowed (5.2 from 6.4) and prices paid for raw materials rose faster (21.8 from 21.2). Dallas Fed Manufacturing Index in the United States averaged 3.28 Index Points from 2004 until 2019, reaching an all time high of 47.10 Index Points in June of 2004 and a record low of -60.10 Index Points in February of 2009.
Dallas Fed Manufacturing Index in the United States is expected to be 15.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Dallas Fed Manufacturing Index in the United States to stand at 15.00 in 12 months time. In the long-term, the United States Dallas Fed Manufacturing Index is projected to trend around 12.00 Index Points in 2020, according to our econometric models.