“The expansion in Texas factory activity continued in June, albeit at a slower pace than in May, according to business executives responding to the Texas Manufacturing Outlook Survey,” the Federal Reserve Bank of Dallas reported on Monday.
Key takeaways from the official publication
- The general business activity index rose 10 points to 36.5, and the company outlook index rose five points to 33.2, its highest reading since 2006.
- The employment index stayed near last month’s six-year high at 23.9.
- Thirty-one percent of firms noted net hiring, compared with 7 percent noting net layoffs.
- The raw materials prices index rose 10 points to 53.6, its highest reading since 2011.
- The finished goods prices index moved up to a 10-year high of 26.2.
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