Dallas Fed manufacturing index falls more than expected

Manufacturing activity in Texas remained in contraction this month, as the headline index from the Dallas Federal Reserve printed at -31.8.

Economists had estimated that the reading improved to -30 from -34.6 in January. The reading was negative throughout 2015.

Last month, the reading dropped to a six-year low, as cheaper oil continued to hurt businesses with exposure to the sector. All of the major sub-indexes worsened.

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