Texas manufacturing activity down

The Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey has revealed that the Texas factory activity declined this past April. The production index, which is a key measure of state manufacturing conditions, has posted a reading of -4.7, which is the second negative reading in a row.
Other measures of current manufacturing activity, including the New Orders Index, edged slightly higher than the previous month but was still in the negatives with
-14. The Growth Rate of Orders Index held steady at -15.5, posting its sixth consecutive negative reading. The Capacity Utilization Index went further into the negatives to -10.4, its lowest level since August 2009.
This is the fourth month in a row that perceptions of broader business conditions have remained largely pessimistic. The General Business Activity Index stayed negative but moved up to -16 in April, while the Company Outlook Index moved down to -7.8, reaching its lowest reading in nearly two and a half years.

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