Dallas Fed: Activity Declined in October

Factory activity declined in October, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, which was released yesterday.

The general business conditions index narrowed to negative 3.3 in October from negative 6.4 in September.

The production index fell to negative 8.0 from negative 0.5, while capacity use decreased to negative 11.3 from negative 4.8, the Fed reported. Volume of new orders sank to negative 2.8 from positive 8.0, while growth rate of orders index widened to negative 9.6 from negative 4.8.

As for the future outlook, which looks ahead six months from now, the general business conditions index grew to 16.7 from 13.9 in September, the Dallas Fed said.

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