“Texas manufacturing activity remained soft in July,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released yesterday.
The general business conditions index declined to negative 27.4 in July from negative 24.1 in June. The production index remained zero in July, while capacity use reversed to positive 3.9 from negative 0.9, the Fed reported. Volume of new orders slid to negative 7.7 from negative 6.5.
Prices paid for raw materials slid to 65.4 from 72.2, while prices received for finished goods dipped to 31.7 from 33.4 and the capital expenditures index decreased to negative 7.7 from negative 3.7.
As for future outlook six months from now, the general business conditions index dropped to negative 20.2 from negative 10.4 last month, the production index decreased to 12.6 from 19.8, and capacity use fell to 14.5 from 19.6, the Fed reported. Volume of new orders fell to 11.6 from 18.8.
Prices paid for raw materials fell to 64.7 from 65.5, while prices received for finished goods jumped to 57.8 from 43.9 and the capital expenditures index improved to negative 1.0 from negative 2.8.
