In October Texas factory activity increased, according to a report released on Oct. 27 from the Dallas Federal Reserve. However several measures pointed to a slower pace for growth, the Dallas Federal Reserve reported today.
The production index fell from 17.6 to 13.7, according to the Texas Manufacturing Outlook Survey, the bank’s monthly survey of manufacturing executives. The capacity utilization index edged down to 18.1 and the shipments index also slipped, to 12.8. Still, more than a quarter of the firms reported increases in these latter two measures.
Looking ahead, however, the new orders index spiked upward, from 7.5 to 14.2, a six-month high. Perhaps as a result, Texas manufacturers were more optimistic about their company outlooks, with that index improving more than 12 points to 18.2, again a six-month high.
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