“Texas factory activity continued to expand in November, albeit at a markedly slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey,” the Federal Reserve Bank of Dallas reported on Monday.
Key takeaways from the press release
- The general business activity and company outlook indexes posted double-digit declines, coming in at 17.6 and 13.7, respectively.
- The survey’s demand indicators””the new orders and growth rate of new orders indexes””declined to 9.7 and 4.8, respectively, representing their lowest readings in 20 months.
- The capacity utilization index fell six points to 9.4, and the shipments index fell nine points to 7.7, both at their lowest levels in at least 20 months.
- Price and wage increases eased in November.
- Expectations regarding future business conditions remained positive in November, although they were less optimistic than in October.
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