Dallas Fed: Manufacturing Sluggish Amid Positive Hints

“Texas manufacturing activity remained sluggish amid some hints of reviving optimism in May,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released yesterday.

The general business conditions index improved to negative 10.3 in May from negative 23.4 in April.

The production index decreased to 5.5 in May from 12.5 in April, while capacity use dipped to 7.4 from 8.0, the Fed reported. Volume of new orders rose to 8.3 from 8.1, while growth rate of orders index declined to negative 1.8 from zero.

As for the future outlook six months from now, the general business conditions index dropped a tick to negative 5.6 from negative 5.5 last month, the production index decreased to 17.8 from 24.5, and capacity use slid to 14.0 from 21.8, the Fed reported. Volume of new orders fell to 19.6 from 20.0, while growth rate of orders index declined to 11.2 from 13.6.

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