“Texas factory activity continued to expand in October, albeit at a slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey,” the Federal Reserve Bank of Dallas reported on Monday.
Key quotes
- The production index, a key measure of state manufacturing conditions, was positive but declined another six points to 17.6, indicating output growth continued to abate.
- The general business activity index inched up to 29.4, and the company outlook index climbed seven points to 25.0.
- The index measuring uncertainty regarding companies’ outlooks retreated 13 points to 6.9.
- The employment index rose six points to 23.9, a level well above average.
- The raw materials prices index posted a 10-point increase to 54.4, reaching its highest level in seven years.
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