In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Monday, February 27, 2012

Dallas Fed: Texas Manufacturing Expansion Strengthens in February

by Calculated Risk on 2/27/2012 09:19:00 PM

This was released earlier today. These high frequency surveys are useful because they provide a glimpse of what was happening just a week or two ago - as opposed to other data that is released with a long lag.

From the Dallas Fed: Texas Manufacturing Expansion Strengthens

Texas factory activity continued to increase in February, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose from 5.8 to 11.2, suggesting a pickup in the pace of growth.

Other measures of current manufacturing conditions also indicated expansion in February. The new orders index was positive for a second month in a row but fell from 9.5 to 5.8. Similarly, the shipments index moved down from 6.1 to 4.2. Capacity utilization increased further in February; the index edged up from 8.5 to 10.
The general business activity index rose to 17.8, its highest reading since November 2010.
Labor market indicators reflected a sharp increase in hiring and longer workweeks. The employment index jumped to 25.2, its highest level since the beginning of 2006.
Prices and wages increased in February. The raw materials price index was 25.2, little changed from January. The finished goods price index climbed from 9 to 16.2, suggesting selling prices rose at a faster pace.
All of the regional surveys were stronger in February than in January; the last regional survey, from the Richmond Fed, will be released tomorrow.