You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

Texas factories continue rebound in November


Activity at Texas factories continued to bounce back in November, posting a fifth straight month of production gains, according to a report Monday from the Federal Reserve Bank of Dallas.

The state production index, a key measure of factory activity, rose 2.1 points to a reading of 8.8 for the month, according to the Texas Manufacturing Outlook Survey.

The increase indicates factory output has continued to expand at least since July, when the index barely recorded a positive reading after dipping into negative territory at -7 in June and -13.1 in May. Positive readings generally indicate expansion of factory activity, while readings below zero generally indicate contraction, the Dallas Fed says.

The state production index tracks closely with the overall Texas GDP, so it provides one of the most current readings of broader economic conditions across the state. Texas produces more than 11 percent of total manufactured goods in the United States, ranking second behind California in factory production, the Dallas Fed says.

Additional measures of Texas’ current manufacturing activity were mixed — the capacity utilization index rose 3 points to 3.6, while the shipments indexes saw a dip to -1.9.

The survey’s “demand indicators” — or measures of underlying production factors — remained in negative territory this month, the Dallas Fed said.

The new orders and growth rate of orders indexes posted their third consecutive negative readings in November, but also showed smaller declines.

Overall, the state’s manufacturing sector posted employment gains in November, according to the Dallas Fed. The employment index was at 4.5 after a nearly flat reading the previous month, the Dallas Fed said. In September, the employment index posted its first positive reading in nine months.

The hours worked index also returned to positive territory at 2.5. It was -1.8 in October.

The report also found that perceptions of broader business conditions improved “markedly” in November, with the general business activity shooting up to 10.2 after nearly two years of negative readings, the Dallas Fed said. The company outlook index saw a large gain as well, increasing 9 points to a reading of 11.

Manufacturing executives expressed more optimism in the November survey, with the index of future general business activity posting a positive jump to 31.6, up from 4.8 in October. The index of future company outlook also increased for the month to 34.9, up more than 20 points from a month earlier.


Reader Comments ...


Next Up in Business

Travis appraisal district’s website hacked

The Travis Central Appraisal District confirmed Tuesday that its website is being targeted by a hacker or hackers, preventing users from being able to access the public site. “We are being repeatedly hacked by someone trying to steal our data. That is causing a denial of service to everyone else. Our staff is working with the internet provider...
Massive indoor shooting range opens Feb. 1 in South Austin
Massive indoor shooting range opens Feb. 1 in South Austin

A massive indoor shooting range is set to open Feb. 1, nearly a year and a half after it was first announced. The Range at Austin is a 52,000-square-foot facility at 8503 S. Interstate 35, near East William Cannon Drive. It will feature 37 rifle-rated lanes, firearm rentals, a store stocked with firearms and accessories, training classes and a...
Business Digest: Austin wealth management firms merge

FINANCE Austin wealth management firms merge A pair of Austin-based wealth management firms have announced they will merge, combining their portfolios to form a company with $656 million in assets under management. The combination of Per Stirling and Couch Hallam Financial Group – which will operate under the Per Stirling name – becomes...
Have high-interest debt? Find a way to pay it off

I got laid off at age 58 with a six-month severance package. My 401(k) is at $46,000 and I haven’t rolled it over yet. I am looking for another job. I have been offered the chance to continue as planned with a company pension. It would start at age 65 at $1,300 a month. Or I could take a lump sum that may be $140,000 to $170,000. Six months ago...
The 6 new rules for personal finance

Hard to believe it was 20 years ago when I wrote a column titled “The 7 Laws of Personal Finance.” It summarized what I had learned in the previous 20 years. The laws were dirt-simple. They served me, and many readers, very well. But that was then. What about tomorrow? What should a young person do to achieve financial freedom and peace...
More Stories