Dallas Fed: Manufacturing continues to expand but at slower pace
|"Texas factory activity increased in June, according to business executives responding to the Texas Manufacturing Outlook Survey," the Federal Reserve Bank of Dallas said on Monday.
Key highlights:
- The general business activity index edged down to 15.0
- The production index, a key measure of state manufacturing conditions, fell 11 points to 12.3, indicating output grew but at a slower pace than in May
- The new orders and growth rate of orders indexes fell several points each, coming in at 9.6 and 4.7, respectively
- The capacity utilization index moved down to 12.3, and the shipments index retreated to 8.5 after surging last month
- The employment index posted a sixth consecutive positive reading and edged up to 9.6
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