Report: Texas Manufacturing Continues Expansion

Factory news is great, according to business executives responding to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey. Manufacturing momentum maintained in August 2018, with the production index holding steady at 29.3.

• Other indexes indicated solid expansion
• New orders index was little changed at 23.9
• Growth rate of orders index was 19.9, up three points
• Capacity utilization index was unchanged at 25.2
• Shipments index fell five points to 26.0
• The employment index was at 28.9, a 13-year high

Labor market measures continued suggesting robust hiring and longer work hours, with 34% of firms noting net hiring, compared to 5% noting net layoffs. While perceptions of broader business conditions were positive, uncertainty was also elevated, Dallas Fed analysts noted.

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