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Texas Factory Activity in December Elevated as Employment Hits an 8-Month High

December 27, 2021 by Forex Winner Leave a Comment

Texas Factory Activity in December Elevated as Employment Hits an 8-Month High

Source: Federal Reserve Bank of Dallas

Texas factory activity accelerated at an above-average rate in December, with the production index steady at a solid output expansion of 26.7. SPY is up +0.90%, DXY is up +0.05%.

  • New orders index remained above the series average of 6.7 despite falling to 18.1 in December, from 19.6 the previous month. 
  • The shipments index was down to 19.1 from 24.3, as the capacity utilization improved from an index of 26.4 to 27.8.
  • The general business activity gauge was positive but slipped almost four points to a lower index of 8.1. The company outlook index posted the highest reading since August of 8.6, up from 1.3.
  • The manufacturing sector showed improvements in labor market conditions, with the employment index hitting an eight-month high of 30.9. 
  • Prices pressure persisted despite easing from a series high to a lower 66.2. The index gauging the wages and benefits was almost at a series high at 45.5. 
  • Manufacturing firms remained optimistic on future conditions, although the degree of expectations eased in December. Expectations on future production were down to 40.6 from 51.7, while the future general business activity index fell 15 points to 14.0.

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