Texas Manufacturing Activity Continues To Grow

Texas factory activity increased in December, according to business executives responding to the Dallas Federal Reserve’s Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, was positive for the fourth consecutive month.

Labor market indicators improved in December. The employment index rose from 6 in November to 15 in December, reaching its highest level since early 2007. Twenty-four percent of firms reported hiring new workers, compared with 9% reporting layoffs. Hours worked increased again this month and the wages and benefits index rose from 5 to 10. ◆