Dallas Fed: Growth in Texas manufacturing activity holds steady
|"Texas factory activity continued to increase in September, according to business executives responding to the Texas Manufacturing Outlook Survey," said the Federal Reserve Bank of Dallas on Monday.
Key takeaways:
- The production index, a key measure of state manufacturing conditions, edged down to 19.5 from 20.3 in August, indicating output grew at about the same pace as last month.
- The new orders index increased and the growth rate of orders index ticked down but stayed positive, coming in at 18.6 and 9.7, respectively.
- The capacity utilization index edged up four points to 15.8, while the shipments index jumped nine points to 27.4.
- Labor market measures suggested faster employment growth and longer workweeks this month. The employment index came in at 16.3, its highest level since April 2014.
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