Dallas Fed: Manufacturing business activity slumps to 17.6 in Nov. vs 25 expected

"Texas factory activity continued to expand in November, albeit at a markedly slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey," the Federal Reserve Bank of Dallas reported on Monday. 

Key takeaways from the press release

• The general business activity and company outlook indexes posted double-digit declines, coming in at 17.6 and 13.7, respectively. 
• The survey’s demand indicators—the new orders and growth rate of new orders indexes—declined to 9.7 and 4.8, respectively, representing their lowest readings in 20 months. 
• The capacity utilization index fell six points to 9.4, and the shipments index fell nine points to 7.7, both at their lowest levels in at least 20 months.
• Price and wage increases eased in November.
• Expectations regarding future business conditions remained positive in November, although they were less optimistic than in October.