Posted February 22, 2010
Texas manufacturing activity expands
Texas factory activity continued to expand in February, according to business executives responding to the Fed's Texas Manufacturing Outlook Survey.
The production index, a key indicator of state manufacturing conditions, edged downward from its January reading but remained positive, suggesting slower growth in output.
Several indicators of current factory activity turned negative in February, reversing recent months’ improvements. The new orders index fell from 27 to –6, with the share of respondents reporting decreases more than tripling from January. With new orders falling, indexes for shipments and growth rate of orders also retreated, turning slightly negative. Capacity utilization was unchanged from January as the index came in at zero.
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