FX.co ★ Dallas Fed Business Index Contracts for 2nd Month

The Dallas Federal Reserve's general business activity index decreased by 3.8 points from the previous month, reaching -9.4 in October 2025. This marks the most significant decline in business activity since May. Similarly, the revenue index, which is a crucial indicator of state service sector conditions, dropped by 4 points to -6.4. This downward trend has led companies to reduce their employment levels for the second consecutive month (-5.8 compared to -3.6 previously) and decelerate their wage and benefit offerings (1.7 compared to the earlier 11.9). Meanwhile, input prices grew at a slower rate, although they remained considerably higher (23 compared to 24.4), prompting an increase in selling prices (4.6 compared to 1.6). Looking forward, the outlook for the company index further declined to 10 from a previous -2.6.