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- Dallas Fed Manufacturing Index improves to 28.9 in March
Dallas Fed Manufacturing Index improves to 28.9 in March
The Federal
Reserve Bank of Dallas reported Monday its general business activity index for manufacturing
in Texas rose to 28.9 in March from an unrevised 17.2 in February, pointing to
expansion in Texas factory activity for the eighth straight month. This was the
highest reading since August 2018 as well.
According to the report, the production index, a key
measure of state manufacturing conditions, came in at 48.0 in March, up 28.1
points from February, indicating a record output growth. The new orders index jumped
17.5 points to 30.5, and the growth rate of orders index increased 11.1 points
to 22.7. The shipments index surged 17.0 points to 33.1, while the capacity
utilization index climbed 29.6 points to 46.1, its all-time high. Elsewhere,
the employment index rose 6.1 points to 18.8, suggesting robust hiring.
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