The Dallas region was the weakest in six years thanks to oil. For details, please see Dallas Fed Manufacturing Index Collapses: Lowest Production Reading in 6 Years, Orders Contract 7th Month, New Orders 5th Month.
Comparative Wrap-Up
| Component | Richmond | Kansas City | Phillly | Empire State | Dallas |
|---|---|---|---|---|---|
| Date | 26-May | 21-May | 15-May | 5-May | 26-May |
| Index | 1.0 | -13.0 | 6.7 | 3.1 | -20.8 |
| Production | N/A | -13.0 | N/A | N/A | -13.5 |
| Shipments | -1.0 | -9.0 | 1.0 | 14.9 | -11.6 |
| New Orders | 2.0 | -19.0 | 4.0 | 3.9 | -14.1 |
| Order Backlog | -10.0 | -21.0 | -1.1 | -11.5 | -10.6 |
| Employees | 3.0 | -17.0 | 6.7 | 5.2 | -8.2 |
| Workweek | 6.0 | -14.0 | -5.6 | -2.1 | -11.6 |
| Prices Received | N/A | -4.0 | -5.4 | 1.0 | -8.7 |
| Prices Paid | N/A | -6.0 | -14.2 | 9.4 | -1.7 |
Reports
May 05: Empire State
May 15: Philly
May 21: Kansas City
May 26: Richmond
May 26: Dallas
Notes:
- Some regions use the term "order backlog" others "unfilled orders"
- Some regions had a production index component, others not.
- Richmond discussed prices paid and received on an annualized basis, not an index component that could be directly compared to the others.
Significant Points
- The Dallas and Kansas City regions were both hammered by collapse in oil prices and oil related services.
- Order Backlog was negative across the board.
- Employee Workweek was down in four of five regions.
- Prices Received was down in three of four regions.
In aggregate, these are weak to very weak reports.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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