October 30, 2019
The pace of growth for Texas factory activity continued expanding in October 2019, but at a slower pace. This, according to business executives responding to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey. Overall, the production index, a measure of state manufacturing conditions, fell nine points to 4.5, suggesting a moderation in output growth.
The new orders index turned negative for the first time in three years, falling 11 points to -4.2. The growth rate of orders index also was in negative territory, at -5.9. Meanwhile, the capacity utilization index fell from 12.0 to 3.6, a three-year low.
Interestingly enough, the company outlook index took an upward trend to 8.8, though the index measuring uncertainty regarding companies’ outlooks was slightly elevated at 12.1. Furthermore, the index of future company outlook was up by 13 points to 15.3, its highest level in six months.
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