Texas Manufacturing Output Rebounds in September

Source: Federal Reserve Bank of Dallas

Texas manufacturing conditions posted a rebound in September, with shipment and capacity utilization up while demand fell.

• The production index stood at 24.2, up from 20.8 in August and from the 23.5 recorded in September last year.
• The shipment index climbed to 18.7, and the capacity utilization index grew to 24.5, while the demand index slipped.
• Declines were also recorded in new orders, which remained slightly above the series average, while the growth rate of orders slipped by eight points.
• Company outlook and general business activity indexes dropped into negative territory, while the general business activity index stood firm at positive levels.
• Labor market measures hinted at faster employment growth and longer workweeks, with the employment index up even as hours worked declined.
• Declines were recorded in both the future production index and the future general business activity index.