Monday, April 25, 2011

Texas Manufacturing survey shows slower expansion in April

by Bill McBride on 4/25/2011 03:21:00 PM

Earlier from the Dallas Fed: Texas Manufacturing Activity Increases but at a Slower Pace

Texas factory activity continued to expand in April, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, moved down from 24 to 8, suggesting slower growth in output.
...
The new orders index was positive for the sixth consecutive month, although it decreased from 14 to 4 in April. ... The employment index edged up from 12 to 13, its highest reading this year. ... Hours worked were essentially flat in April after increasing for five consecutive months.
There are two more regional Fed surveys to be released this week (The Dallas survey is D-list data at best). These regional surveys do provide a hint about the ISM manufacturing index to be released next Monday, May 2nd, and I'll post a graph on Thursday after the other regional surveys are released.