Manufacturing output in Texas continued to grow but at a slightly slower rate in February.
- The production index stood at 14.5, dropping two points from January, but still signaled an above-average output growth.
- The new orders index rose three points to 23.1, as the growth rate of the orders index remained almost the same at 12.6. The capacity utilization index was largely the same at 11.5.
- The sentiment of broader business conditions expanded in February. The general business activity index jumped 12 points to 14.0.
- The labor market index signaled rapid employment growth and longer workweeks, even though it moderated in February. The employment index stood at 18.4, falling nine points from January.
- 27% of firms surveyed reported net hiring, and 9% reported net layoffs. The hours worked dropped down slightly to 19.0.
Future expectations about growth in manufacturing activity increased in February, with the future production index rising to 42.1 and the future general business activity index rising to 20.6.
DXY up +0.25%, EUR USD down -0.49%
Source: Federal Reserve Bank of Dallas
