Dallas Fed: "Contraction in Texas Manufacturing Sector Worsens", Record Low Activity Index

From the Dallas Fed: Contraction in Texas Manufacturing Sector Worsens Texas factory activity declined further in April, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, pushed further negative from -35.3 to -55.3, suggesting the contraction in output has steepened since last month. Other measures of manufacturing activity also point to a sharper decline in April. The new orders index dropped 26 points to -67.0, its lowest reading since the survey began in 2004. Similarly, the growth......(read more)

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