Dallas Fed Survey Shows Manufacturing Expansion
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.”