US: Dallas Fed Manufacturing Index improves to 1 in January from -5.1 in December

"Perceptions of broader business conditions improved in January. The general business activity index rebounded from a multiyear low of -5.1 in December to 1.0 in January," the Federal Reserve Bank of Dallas reported in its Texas Manufacturing Outlook Survey.

Key takeaways from the press release

• This near-zero reading suggests manufacturers were fairly balanced in their assessment of whether activity had improved or worsened from last month. 
• The company outlook index also rebounded from negative territory this month, rising more than 10 points to 7.1.
• The employment index retreated four points to 6.6, a two-year low. 
• The raw materials price index slipped eight points to 21.2, and the wages and benefits index ticked down two points to 27.4. 
• The indexes of future general business activity and future company outlook rose to 11.7 and 22.3, respectively.