Dallas-area manufacturing data:
- Prior was -1.3
- Output +3.6 vs -2.4 prior
Another survey from the Dallas Fed that's starting to get some attention is the quarterly energy survey. The latest edition was published December 27 and showed it at -4.2 vs -7.4 prior. Sentiment in oilfield services was particularly negative. The gloom in the sector is tough to square with record US oil production but when you look out a bit further, the easy money for the industry has been cut off and tougher times are coming.