NNNNNeeeeeeeyyyyyaaaakkkkaaaaaahhhh…..
GIGANTIC MISS: DALLAS FED REPORT PLUNGES TO -13.2
Oof, mega-whiff.
According to Bloomberg, the main Dallas Fed index report fell to -13.2 from 5.8.
This is one of several regional Fed indices that offer a gauge on the manufacturing sector in said region…
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…Texas factory activity continued to increase in July, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, fell from 15.5 to 12, suggesting slightly slower output growth.
Other measures of current manufacturing activity also indicated slower growth in July. The new orders index was positive for the second month in a row, although it moved down from 7.9 to 1.4. Similarly, the shipments index posted its second consecutive positive reading but edged down from 9.6 to 7.4. The capacity utilization index came in at 8.7 after rising to 13.3 last month.
Perceptions of broader economic conditions were mixed in July. The general business activity plummeted to -13.2 after climbing into positive territory in June. Nearly 30 percent of manufacturers noted a worsening in the level of business activity in July, pushing the index to its lowest reading in 10 months. The company outlook index remained positive for the third month in a row but fell from 5.5 to 1.6.
If Obama is indeed trying to drive us off a cliff, as seems to be the case:
Biz, Nanny State, People, Politics | tree hugging sister | 
July 30, 2012 11:03 am
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And this is in Texas.
And Texas is doing better than a lot of the rest of the Union.
God help us all.
Well, to be fair, the Eleventh District also includes northern LA and southern New Mexico. I’m pretty sure business plans are being put in cold storage until there’s a better idea if the Obamunists can be dethroned. I need a job and it’s discouraging, but I understand the climate of uncertainty and regulatory fear.