FYI: So much for a recovery in the state of business activity in the Dallas Fed region. In today’s report from the Dallas Fed on Business Conditions in the area, the overall index of General Business Activity declined from -13.9 down to -20.8. Economists were actually forecasting this index to improve to -8.0. While the decline is a disappointment, it is still well above its lows from earlier this year. Looking at the commentary from various industries generally shows a trend where demand is soft, but what really stands out is the concern over new Department of Labor overtime rules. One respondent went so far as to note that, “what the federal government currently decides to spend its time on is almost always neutral or detrimental to improving the economy.”
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/dallas-fed-heads-south/
