Tags: Coronavirus | Financial Markets | dallas | fed | factory | index | record

Dallas Fed's Factory Index Plunges to Record Low in March

Dallas Fed's Factory Index Plunges to Record Low in March
(Dreamstime)

Monday, 30 March 2020 04:46 PM

A Federal Reserve gauge of manufacturing in Texas tumbled to a record low in March as more of the nation’s factories are left reeling from the pandemic.

The Dallas Fed said Monday that its general economic index decreased to minus 70, the lowest reading in data back to 2004, from 1.2 in February. Readings below zero indicate contracting activity. The measures production and new orders both were lowest since 2009.

The figures are consistent with severe declines in other regional gauges as unprecedented shutdowns freeze large parts of the industrial economy. Regional Fed bank measures of manufacturing in New York, the Philadelphia area, and Kansas City district all showed record monthly declines.

© Copyright 2020 Bloomberg News. All rights reserved.


   
1Like our page
2Share
Economy
A Federal Reserve gauge of manufacturing in Texas tumbled to a record low in March as more of the nation’s factories are left reeling from the pandemic.
dallas, fed, factory, index, record, low
112
2020-46-30
Monday, 30 March 2020 04:46 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved