US DATA: June Dallas Fed Mfg Survey text: “Texas factory activity
surged in June, according to business executives responding to the Texas
Manufacturing Outlook Survey. The production index, a key measure of
state manufacturing conditions, rose from 5.5 to 15.5, posting its
strongest reading in 15 months. Other measures of current manufacturing
conditions also indicated strengthening activity in June. The new orders
index rose to 7.9, following three readings around zero, suggesting
demand finally grew after staying flat since February. Similarly, the
shipments index rebounded to 9.6 after two months of near-zero readings.
The capacity utilization index rose from 5 to 13.3, reaching its highest
level since early 2011. Perceptions of broader economic conditions
improved in June. The general business activity index had been negative
in April and May but increased to 5.8 this month. 24% firms noted
improvement in the level of business activity in June, up from 15
percent last month. The company outlook index edged up from 4.7 to 5.5.”