Texas factory continued to expand but at a slower rate in January.
- The Texas Manufacturing Outlook Survey’s general business activity index stood at 2 in January, slowing down to 5.8 from the prior month.
- The production index, a key measure of state manufacturing conditions, dropped to an eight-month low of 16.6 but still indicated above-average output growth for the month.
- Future expectations of manufacturing output remained highly positive. The future production index dropped slightly to 38.0, and the future general business activity index was almost the same at 16.5.
Other indicators of future manufacturing activity, including employment and capital expenditures, posted mixed results but remained strongly in positive territory.
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Source: Federal Reserve Bank of Dallas