Texas factory activity improved in November, according to the monthly business activity survey released Monday by the Federal Reserve Bank of Dallas.
The production index rose to 13.1 from 6.9 and capacity use improved to 9.9 from negative 2.3, the Fed reported. The general business conditions index surged to 16.2 in November from a level of 2.6 in October.
Volume of new orders increased to 9.1 from negative 4.3, while orders growth rate surged to 9.3 from negative 2.5. Unfilled orders increased to zero from negative 6.3 in the prior survey, shipments gained to 7.8 from negative 2.3, and delivery times rose to negative 1.0 from negative 11.5.
The materials inventory index fell to negative 7.1 from negative 1.9 as greater demand depleted stockpiles. The inventory of finished goods improved slightly to negative 12.2 from negative 12.5.
Prices paid for raw materials grew to 34.9 from 29.9.
In the outlook six months from now, general business conditions improved to 26.1 from 14.2 last month, production increased to 45.1 from 36.2, and capacity use grew to 43.9 from 36.0. Volume of new orders jumped to 49.4 from 40.2, and orders growth rate rose to 40.5 from 35.4.
