Dal­las Fed Sur­vey Shows Man­u­fac­tur­ing Ex­pan­sion

The Bond Buyer - - Market News - — Chip Bar­nett

Texas fac­tory ac­tiv­ity con­tin­ued to ex­pand in Oc­to­ber although at a slower pace than the pre­vi­ous month, ac­cord­ing to the monthly Texas Man­u­fac­tur­ing Out­look Sur­vey con­ducted by the Fed­eral Re­serve Bank of Dal­las.

The pro­duc­tion index, a key mea­sure of state man­u­fac­tur­ing con­di­tions, fell to 17.6 from 23.3 in Septem­ber, the Dal­las Fed said on Mon­day.

The gen­eral busi­ness ac­tiv­ity index inched up to 29.4 from 28.1. The com­pany out­look index rose to 25.0 from 18.2. And a new index mea­sur­ing un­cer­tainty re­gard­ing com­pa­nies’ out­looks moved up to a new high of 19.9 from 19.9.

“The em­ploy­ment index rose six points to 23.9, a level well above av­er­age. Twenty-eight per­cent of firms noted net hir­ing, com­pared with 4% not­ing net lay­offs,” the Dal­las fed said. “The hours worked index re­mained pos­i­tive but moved down to 6.5.”

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