Texas Factory Activity Is Shrinking Again As Business Conditions Seen as Worsening
Orders are down. Employment is soft. Production is falling.
Orders are down. Employment is soft. Production is falling.
The Dallas Fed survey of manufacturers shows production expanded in October.
Factory activity picked up even as businesses say they are facing stiff wage pressures and a deteriorating business climate.
The Dallas Fed’s barometer of activity in the Texas manufacturing sector showed contraction for the 16th straight month.
The Dallas Fed’s Texas Manufacturing Outlook Survey indicated that factory activity was flat in April after modestly growing in March.
Production increased even though perceptions of general business business conditions worsened and new orders fell.
The outlook for the energy sector in Texas is somewhat pessimistic as concerns about a recession limit the oil price that some explorers were hoping for, a survey from the Federal Reserve Bank of Dallas found.
Texas manufacturing declined for the seventh straight month.
“We are living in Alice in Wonderland … it just gets worser and worse,” a machinery manufacturer told the Dallas Fed.
The Richmond Fed index unexpectedly fell even further into negative territory even as inflation pressures remain extremely high.
Every gauge of the health of the manufacturing economy in Texas showed contraction or stagnation in June. Except prices: those are still rising at an extremely elevated pace.
Another regional Fed report shows deteriorating business conditions.
The Dallas Fed’s manufacturing survey show price expectations are soaring.
Inflation expectations keep rising all over the country.
Texas factories see a lot more inflation coming down the pipeline.
Trimmed mean inflation ran at an annual rate of 5.1 percent in September, the fastest pace since 1990.
“Our customers are deluged with price increases,” a Texas manufacturer reported.
Texas manufacturing activity unexpectedly slowed significantly in August, data from the Federal Reserve Bank of Dallas showed Monday. The production index of the Dallas Fed’s Texas Manufacturing Outlook Survey plummeted to 20.8 in August from 31.0 in July. The index
Texas manufacturers say prices are still rising and they expect them to keep going up.
Prices are rising at a fast clip and businesses are struggling to hire enough workers thanks to federally boosted jobless benefits.
The Dallas Fed said manufacturing expanded at “a markedly faster pace, with its manufacturing index rocketing to the highest reading in its 17-year history.
The Dallas Fed’s survey registered the eigth consecutive month of growth in January but the pace of expansion slowed significantly.
Growth continued for the sixth straight month but the pace slackened in November.
“If President Trump wins, our future looks bright, and if Mr. Biden wins, it will be gloom and doom for long period of time,” an executive from a metals manufacturer told the Dallas Fed
July saw the third straight month of rising production in Texas manufacturing plants.
Business conditions grew worse in October but optimism about the future increased.
Good news out of the Texas, where general business conditions are up by more than expected and manufacturing is expanding.
Rising uncertainty and escalating tariffs did not stop Texas businesses from continuing to expand in September. Many Texas businesses are feeling the impact of tariffs, according to the Federal Reserve Bank of Dallas’ “Texas Business Outlook Survey” released Monday. Manufacturers