Dallas Fed New Orders

"The shipments index plunged from 20.8 to 6, due to a much higher share of respondents noting a decline in shipments in January than in December

Wage pressures eased, while input and selling prices declined in January.

The raw materials price index came in at -1.7, its first negative reading in more than five years.

The finished goods price index fell 11 points to -6.7, after posting positive readings during the past 17 months.

...The wages and benefits index receded from 25.2 to 19.1, suggesting some moderation in upward pressure on compensation costs."

http://www.zerohedge.com/news/2015-01-26/unambiguously-good-dallas-fed-collapses-20-month-lows-orders-plunge