Texas Manufacturing Grows for 8th Straight Month

Texas factory activity increased in December for the eighth straight month of advances, according to a Dallas Federal Reserve Texas Manufacturing Outlook Survey released today. 

After clocking in at 1.9 for November, this month's report puts business activity at 3.1, slightly less than analysts' expectations of a 4.0 reading. 

The monthly survey asks about 100 Texas manufacturers to rate their views on current and future business activity. Market watchers keep a close eye on this index, as Texas' manufacturing can serve as an important indicator of national economic health. A positive number indicates month-over-month growth, while a negative number means contraction. 

While business conditions improved at a faster rate, the Fed's production index showed some signs of slowing. An important manufacturing metric, the index fell from 16.9 in November to 7.1 this month.


Taking a closer look at the survey's individual components, the all-important new orders indicator dipped down to -0.5 from 5.4, while unfilled orders continued to contract. And although businesses hired more workers in December, the average number of hours worked fell.

Still, after eight months of overall gains for the Index, this latest report is another solid indicator of steady business.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2779005, ~/Articles/ArticleHandler.aspx, 9/27/2016 10:18:30 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,179.51 84.68 0.47%
S&P 500 2,154.22 8.12 0.38%
NASD 5,291.96 34.47 0.66%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes