Interpretation of the Dallas Fed Business Activity Index in June
The value recorded was -15.1. Although it is still negative, the data shows that Texas's business economic activities are returning to the recovery stage.
Detailed data show that Texas's manufacturing industry has recovered significantly in June. The manufacturing output index has turned from negative to positive 0.7, and the order data has increased. However, the price index of finished products has risen too high, directly from the previous value of 4.1 to 14.4.
At the same time, the price paid for raw materials in the manufacturing industry has risen slightly, and the employment index has risen.
Overall, Texas' employment activities are recovering positively, and the manufacturing industry has recovered significantly. At the same time, it has brought more employment opportunities to the local employment market, but it has also brought some disadvantages. The rise in raw material prices has led to an increase in the price of finished products. When products are sold to the market, the cost increase will be passed on to the market, resulting in an increase in inflationary pressure in the Texas region in the short term.
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