US: Dallas Fed Manufacturing Business Index improves from -3 to 8 in August

• Dallas Fed’s survey shows slight improvement in Texas’ manufacturing activity in August.
• US Dollar Index extends daily slide, closes in on 92.00.

The economic activity in Texas’ manufacturing sector expanded at a modest pace in August with the General Business Activity Index of the Federal Reserve Bank of Dallas’ Manufacturing Outlook Survey rising to 8 from -3 in July. 

Further details of the publication revealed that the Manufacturing Output Index edged lower to 13.1 from 16.1 in July and the Company Outlook Index improved to 16.6 from 5.9.

“Expectations regarding future business activity remained universally positive in July, though some were less positive than last month,” the publication read. “The future production index slipped to 37.2, while the future general business activity index dropped nine points to 10.6.”

Market reaction

The US Dollar Index (DXY) largely ignored this data and continues to push lower. As of writing, the DXY was down 0.2% on the day at 92.11.