Manufacturing data from Dallas Fed shows continued expansion in August when you adjust for ISM methodology.
This matters because regional Fed surveys often give us earlier signals than the national numbers. Dallas manufacturing has been volatile, but the underlying trend suggests industrial activity isn't collapsing despite all the recession chatter.
Remember: one data point doesn't make a trend. But it's another small piece suggesting the economy has more resilience than the doomers expected. Markets care about direction of change more than absolute levels.
This matters because regional Fed surveys often give us earlier signals than the national numbers. Dallas manufacturing has been volatile, but the underlying trend suggests industrial activity isn't collapsing despite all the recession chatter.
Remember: one data point doesn't make a trend. But it's another small piece suggesting the economy has more resilience than the doomers expected. Markets care about direction of change more than absolute levels.
