For immediate release: June 28, 2010
Texas Manufacturing Activity Weakens, According to Dallas Fed SurveyDALLAS—Texas factory activity declined in June, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey.
The production index— a key indicator of the state’s manufacturing conditions—fell sharply. All other factory activity indexes also declined in June.
Texas produces more than 9.5 percent of total manufactured goods in the United States, ranking second behind California in factory production.
Eighty-two percent of the survey’s respondents reported that general business activity in June worsened or was unchanged from the previous month.
Despite declines in the indexes, firms expecting improved general business activity in the next six months exceeded those anticipating worsened conditions by nearly 2 to 1.
The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state’s factory activity.
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