Dallas Fed: Texas Manufacturing Activity Picks Up in September
For immediate release: September 30, 2013
DALLAS—Texas factory activity expanded in September, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey.
Texas produces more than 11 percent of total manufactured goods in the United States, ranking second behind California in factory production.
The production index—a key measure of state manufacturing conditions—rose from 7.3 to 11.5, suggesting output increased at a slightly faster pace than in August.
Positive readings in the survey generally indicate expansion of factory activity, while readings below zero generally indicate contraction.
Other measures of current manufacturing activity indicated continued growth in September. The capacity utilization, new orders and shipments indexes all remained positive.
Perceptions of broader business conditions improved further in September. The general business activity index jumped nearly 8 points to 12.8, its highest reading in a year and a half, while the company outlook index posted a fourth consecutive positive reading.
Upward pressure on prices picked up in September, while wage pressure abated. The indexes for raw materials and finished goods prices both rose notably. The wages and benefits index remained positive but moved to its lowest level since early 2011.
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