2018 Economic Calendar
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Dallas Fed Mfg Survey  
Released On 5/29/2018 10:30:00 AM For May, 2018
PriorConsensusConsensus RangeActual
Production Index25.3 35.2 
General Activity Index21.8 23.2 20.0  to 27.0 26.8 

Regional indications point to a very strong month of May including the Dallas Fed's general activity index which jumped 5 points to 26.8 to beat Econoday's consensus by 3.6 points. Production, up 10 points to 35.2, is at a 12-year high as is capacity utilization which surged 13.5 points to 32.2. And strength in orders points to greater utilization ahead with the growth rate of new orders up 8 points to 26.5 for yet another 12-year high. Employment is up 6 points to 23.4 which is a 6-year high.

With all this strength it's no surprise that price and wage pressures remain "highly elevated" as the report says, underscored by a rise for finished prices where a quarter of the sample, which numbers roughly 100 in any one month, reporting gains in the month.

How long can these rates of growth go on before business expansion -- because of lack of capacity especially for employment -- begins to slow is the question especially for this sample.

Consensus Outlook
Regional factory surveys have been strong so far in May and another month of exceptional growth is the call for the Dallas Fed's report. Forecasters see the general activity index firming slightly to a consensus 23.2 vs 21.8 in April. Orders have been very strong in this sample accompanied, however, by signs of capacity stress including rising utilization and a multi-year high for input costs.

The Dallas Fed Manufacturing Survey tracks factory activity in Texas on a monthly basis. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Responses are aggregated into balance indexes where positive values generally indicate growth while negative values generally indicate contraction. About 100 manufacturers regularly participate in the survey.  Why Investors Care

2018 Release Schedule
Released On: 1/292/263/264/305/296/257/308/279/2410/2911/26
Release For: JanFebMarAprMayJunJulAugSepOctNov

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