Dallas Fed Sees Factory Action on the Upswing

Texas factory activity, as measured by the production index, rose sharply in March, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.

The general business conditions index slipped to 11.5 in March from 17.5 in February.

The production index surged to 24.1 from 9.7, while capacity use increased to 18.7 from 9.2, the Fed reported. Volume of new orders dipped to 13.6 from 14.7, while growth rate of orders index rose to 10.0 from 6.4.

As for outlook six months from now, the general business conditions index fell to 16.8 from 27.8 last month.

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