Dallas Fed Contracts For 3rd Straight Month, Confirming Regional Survey Slump

Against expectations of a rebound to 0.0, The Dallas Fed Manufacturing Outlook survey disappointed in December, sliding from -1.3 to -3.2 - in contraction for the 3rd straight month...

The Dallas Fed survey has been in contraction for 7 months this year...

Source: Bloomberg

Under the hood was just as unimpressive with New Orders Growth rate contracting and Finished goods contracting along with the six-month outlook dropping further.

Dallas joins, Philadelphia, Kansas, Chicago, and Richmond in their regional weakness in December...

Source: Bloomberg

But, but , but, The Fed is on hold!?