“Texas factory activity expanded for the fifth straight month in March,” according to the business activity survey conducted by the Federal Reserve Bank of Dallas, released yesterday.

The general business conditions index rebounded to positive 7.2 in March from negative 0.1 in February.

The production index grew to 8.7 from 2.3, while capacity use surged to 14.9 from zero, the Fed reported.

Volume of new orders jumped to positive 10.9 from negative 6.0, while growth rate of orders index reversed to positive 8.6 from negative 3.3.

As for future outlook, the general business conditions index slid to 18.4 from 21.1 in February, the production index decreased to 34.0 from 40.0, and capacity use declined to 32.1 from 40.3.

Volume of new orders slumped to 29.5 from 48.9, while growth rate of orders index slid to 28.5 from 38.7, the Dallas Fed reported.

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