Texas factory activity, as measured by the production index, continued to expand at roughly the same pace in March as in February, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas and released Monday.
The general business conditions index decreased to 10.8 in March from 17.8 in February. The production index dipped to 11.1 from 11.2, while capacity use increased to 12.3 from 10.0, the Fed reported. Volume of new orders slipped to negative 0.3 from positive 5.8.
As for the future outlook, the general business conditions index rose to 19.1 from 15.9, the production index increased to 44.0 from 40.8, while capacity use climbed to 41.8 from 39.1, the Fed reported. Volume of new orders rose to 44.0 from 37.0.