A Sharp Increase in Demand Boosts Production and Employment at Factories Around Texas
A sharp increase in demand boosted production and employment at factories around Texas in January, according to a monthly survey released Monday by the Federal Reserve Bank of Dallas.
The state production index ticked up to 7.1 in January, up from 6.0 the prior month, according to the Texas Manufacturing Outlook Survey. The greater, positive figure suggested that growth accelerated, albeit modestly, during the past month.
The production index tends to track closely with the Texas economy as a whole, so it provides one of the most-current glimpses at statewide economic conditions.
The accelerated production in January was fueled by a sharp rise in demand, the Dallas Fed noted. The new orders index jumped to 14.4 in January from 1.3 in December. The 14.4 number was a seven-month high, the Dallas Fed said. The measure of shipments also jumped to 9.2 from 0.4 over the same period.