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“The general business activity index rose 12 points to 13.1 after posting weak readings the prior two months,” the Federal Reserve Bank of Dallas said in its latest Texas Manufacturing Outlook Survey.

Key quotes

  • The production index, a key measure of state manufacturing conditions, slipped four points to 10.1, indicating a slight deceleration in output growth.
  • The new orders index fell five points to 6.9, its lowest reading in more than two years.
  • The company outlook index rose seven points to 14.2, a four-month high.  
  • The employment index rebounded from 6.6 to 12.6.  
  • The raw materials and finished goods prices indexes held steady at 21.8 and 5.2, respectively, roughly in line with average levels for these indexes.  
  • The indexes of future general business activity and future company outlook rose to 17.7 and 26.7, respectively.