Texas Factory Output Contracts in March

Source: Federal Reserve Bank of Dallas

Factory activity in Texas contracted in March, as major index components saw a decline during the month. QQQ is up 0.10%.

• The production indicator stood at 13.2 in March, down by 1.3 points from 14.5 in February but higher than the 10.9 series average.
• New orders fell by 12.6 points to 10.5 from 23.1 in February, marking its lowest level in over a year.
• Shipments also recorded a decline at 7.0, down by 16.5 points from 23.5 the previous month. It is also lower than the 9.7 series average.
• Growth was seen in capacity utilization, order growth, unfilled orders, delivery time, finished goods inventories, prices paid, prices received, wages, employment, and spending.
• The general business activity index fell 5 points to 8.7 but remained above the series average.
• Expectations for future manufacturing eased but remained positive, with the future production index down to 40.1 from 42.1.
• The future general business activity index slipped by 12 points to 8.2.