Texas factory activity increased again in June, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey.
Texas produces more than 11 percent of total manufactured goods in the United States, ranking second behind California in factory production.
The production index—a key measure of state manufacturing conditions—rose from 11 to 15.5, indicating output grew at a faster pace than in May.
Positive readings in the survey generally indicate expansion of factory activity, while readings below zero generally indicate contraction.
Read more...Texas Manufacturing Picks up Pace in June, Says Dallas Fed Survey - Dallas Fed