Growth in Texas factory activity picked up for a third consecutive month in November, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose from 13.3 to 16.9, reaching its highest reading in five months.
Other measures of current manufacturing activity indicated further expansion in November. The new orders index came in at 5.4, similar to its October level, and marked a seventh consecutive month of increased demand. The capacity utilization index rose to 16.2, its highest level since March 2011, and the shipments index edged up to 14.8.
Read more...Texas Manufacturing Outlook Survey - Dallas Fed