Dallas Fed Reports Contraction Continues

“Texas manufacturing activity continued to deteriorate in February,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released yesterday.

The general business conditions index widened to negative 57.3 in February from negative 50.5 in January.

The production index fell to negative 36.1 from negative 15.4, while capacity use declined to negative 37.2 from negative 19.2, the Fed reported.

As for future outlook the general business conditions index widened to negative 31.6 from negative 28.2 last month, the production index increased to 6.3 from 2.0, while capacity use rose to 4.2 from 2.9.

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