Monday, March 27, 2017

Dallas Fed: "Texas Manufacturing Activity Strengthens" in March

by Bill McBride on 3/27/2017 10:44:00 AM

From the Dallas Fed: Texas Manufacturing Activity Strengthens

Texas factory activity increased for the ninth consecutive month in March, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose two points to 18.6, suggesting output growth picked up pace this month. ...
...
The general business activity index fell eight points but remained positive at 16.9, and the company outlook index was largely unchanged at 17.9. The March figures represent the sixth and seventh positive readings in a row for general business activity and company outlook indexes, respectively.
...
Labor market measures indicated employment gains and longer workweeks in March. The employment index posted a third consecutive positive reading and edged down from 9.6 to 8.4. Nineteen percent of firms noted net hiring, compared with 10 percent noting net layoffs. The hours worked index moved up one point to 8.7. ...
emphasis added
The Richmond Fed manufacturing survey for March will be released tomorrow. Based on the surveys released so far, it appears the ISM index will be strong again in March.