Dallas Fed: Texas Manufacturing Growth Picks Up in September
For immediate release: September 24, 2012
DALLAS—Texas factory activity increased in September, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey.
Texas produces more than 9 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 6.4 to 10, suggesting stronger output growth.
Positive readings in the survey generally indicate expansion of factory activity, while readings below zero generally indicate contraction.
Other measures of current manufacturing activity also indicated growth in September. The new orders index rose to 5.3 following a reading of zero last month, suggesting a pickup in demand.
The capacity utilization index advanced further into positive territory, and the shipments index bounced back into positive territory after turning negative in August.
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