Dallas Fed manufacturing index remains in contraction territory in September

Manufacturing activity in Texas was "essentially flat" in September, according to official data released on Monday.

The latest Dallas Fed manufacturing survey index came in at -9.5, marking the ninth consecutive month the index has remained in contraction territory, while the figure was a little better than the expectation for -10 and comfortably above the previous month reading of -15.8.

However, some of the sub-indices offered some reasons for optimism, with the production index – a key gauge of state manufacturing conditions – registered its first positive reading in seven months to 0.9.

Meanwhile, capacity utilisation edged into positive territory to 4.9.