Texas manufacturing activity stalled in April as new orders and shipments dropped sharply from March’s growth rates, according to a monthly report from the Federal Reserve Bank of Dallas.
The state production index, a key measure of manufacturing output, dropped to a reading of -0.5 in April from 9.9 the prior month, the bank’s Texas Manufacturing Outlook Survey said. The near-zero reading suggested that production was little changed from March, the bank said.
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