Texas factory activity increased but at a slower pace in August, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, fell from 12 to 6.4, suggesting softer output growth.
Other indexes of current manufacturing activity also declined in August. The new orders index edged down to a reading of zero, suggesting flat demand. The capacity utilization index fell from 8.7 to 1.7, reaching its lowest reading since April. Shipments declined slightly in August; the index dipped into negative territory, with more than a quarter of manufacturers noting a decrease in shipment volumes.
Read more...Texas Manufacturing Outlook Survey - Dallas Fed
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