Moderate Expansion Continues in Manufacturing

Factory activity in Texas ticked up, according to business executives responding to the Texas Manufacturing Outlook Survey, conducted by the Federal Reserve Bank of Dallas. The production index moved from 8.9 to 9.3, which meant output growth continued at the same pace as in June 2019. The new orders index, however, increased to 5.5, while the growth rate of orders index climbed nine points to 2.7.

However, while the general business activity index increased by six points, it was still at -6.3, the third month in a row in negative territory. The company outlook index rose five points to -0.9, with the index measuring uncertainty regarding outlook came in at 9.7, a 12-point drop from June.

Overall, expectations regarding future business conditions also improved in July 2019, with the index of future general business activity increasing by nine points to 6.0.

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