Texas factory activity was little changed in November, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, came in at 1.7, indicating output barely increased from October.
Other survey measures suggested flat manufacturing activity in November. The new orders index came in at 0.4, suggesting that demand was unchanged from October. The capacity utilization index plunged more than ten points, coming in at -1.3, indicating utilization rates were little changed from last month. The shipments index edged down from 4.7 to 0.9, with more than half of the respondents noting no change from October.
Perceptions of broader business conditions worsened in November. The general business activity index fell to -2.8, returning to negative territory. The company outlook index moved down to -4.8, registering its first negative reading since April.
Texas Manufacturing Outlook Survey - Dallas Fed
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