Texas factory activity increased for the sixth month in a row in April, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released yesterday.
The general business conditions index soared to 21.1 in April from 7.2 in March.
The production index grew to 18.2 from 8.7, while capacity use gained to 20.6 from 14.9, the Fed reported. Volume of new orders jumped to 15.8 from 10.9, while the growth rate of orders index surged to 19.6 from 8.6.
As for the future outlook, for the period six months from now, the general business conditions index grew to 23.1 from 18.4 last month, the production index increased to 35.1 from 34.0, and the capacity use gained to 33.0 from 32.1, the Fed reported. Volume of new orders climbed to 30.5 from 29.5, while the growth rate of orders index slid to 26.2 from 28.5.