BREAKING :Dallas Fed Manufacturing Index drops to all time low

The Federal Reserve Bank of Dallas' index plunged to -70 in March 2020 from 1.2 in the previous month. It is the lowest reading since series began in June 2004, as the production index, a key measure of state manufacturing conditions, dropped to 35.3 from 16.4, suggesting a notable contraction in output since last month. Also, the new orders index fell to -41.3, its lowest since March 2009; the capacity utilization and shipments indexes fell to -33.4 and -33.8, respectively, Perceptions of broader business conditions turned negative, as the general business activity index plunged to -70.0, and the company outlook index declined to -65.6, both at its lowest on record.