États-Unis Indice des services de la Fed de Dallas

The Dallas Fed’s general business activity index jumped by 5.7 points from the previous month to –4.4 in June 2025, reflecting a softer magnitude of decline in business activity. The result was in line with other leading indicators for the US, which showed modest improvement in June after the White House’s pause on new tariffs, although uncertainty remained. These were mainly through employment (–1.2 vs –0.2 in May) and capital expenditures (7.5 vs 4.4), reflecting that firms continue to adjust capacity amid a cautiously optimistic outlook. Consistently, the outlook for future revenues surged (33.4 vs 27.2) while the gauge measuring outlook uncertainty remained elevated at 19.7 (vs 18.7). Still, current revenues declined (–4.1 vs –4.7).