Dallas Fed: "Texas Manufacturing Activity Contracts Suddenly, Outlook Worsens", Record Low Activity Index

From the Dallas Fed: Texas Manufacturing Expansion Continues Texas factory activity declined sharply in March , according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, plummeted from 16.4 to -35.3, suggesting a notable contraction in output since last month. Other measures of manufacturing activity also point to a sudden decline in March. The new orders index dropped to -41.3, its lowest reading since March 2009 during the Great Recession. Similarly, the growth rate of orders index fell to......(read more)

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