“Texas manufacturing activity remained sluggish in April,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas and released yesterday.
The general business conditions index dipped to negative 23.4 in April from negative 22.7 in March.
The production index decreased to 12.5 in April from 13.6 in March, while capacity use dropped to 8.0 from 8.2, the Fed reported. Volume of new orders declined to 8.1 from 11.8, while growth rate of orders index rose to zero from negative 1.8.
As for future outlook, the general business conditions index improved to negative 5.5 from negative 10.0 last month.