(DallasFed) The production index, gauging the Texas manufacturing conditions, held steady at 13.2, a mark that indicates a slightly above-average expansion.
Key measures of Texas manufacturing were mixed, with the new orders index slowing to the lowest in over a year of 10.5, from 23.1. The growth rate of the orders index held at 13.7.
The capacity utilization index improved by four points to 15.1, while the shipments gauge fell by 17.0 points to 7.0.
Manufacturing firms held mixed perceptions of the broader business conditions, with the general business index down by five points to 8.7. The company’s outlook approached zero, while the uncertainty index increased from 17.0 to 20.5.
In the labor market, robust employment was noted, with the index edging up by seven points to 25.5. The hours worked index fell to 15.4.
Prices held at or near historical records, with the raw material cost index unchanged at a high of 74.0, while the finished goods prices gauge rose to touch 47.8. The wages and benefits gauge rose by 11 points to a fresh high of 55.2.
Manufacturing expectations eased despite remaining positive, as the future production index fell from 42.1 to 40.1.
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