Texas manufacturing activity accelerated sharply in September, with output, new orders, and hiring all rising well above their historical norms, according to the Federal Reserve Bank of Dallas.
\n\nThe production index in the Dallas Fed’s Texas Manufacturing Outlook Survey, which the bank calls a key measure of state manufacturing conditions, jumped 13.4 points to 29.5, from 16.1 in August. That is roughly three times the index’s long-run average of 9.7 and marks the ninth consecutive month of expanding output. More than 41 percent of manufacturers reported higher production, while 12 percent reported a decline.
\n\nDemand strengthened alongside output. The new orders index rose to 30.7 from 22.0, more than six times its series average of 4.8. The growth rate of orders index climbed 11 points to 19.1, far above its historical average of negative 1.0.
\n\nOrders are arriving faster than factories can fill them. The unfilled orders index swung 24 points, from negative 1.3 in August to 22.7 in September, well above its long-run average of negative 2.6. Delivery times lengthened, with that index rising to 17.5 from 12.5, and finished goods inventories fell into contraction at negative 9.5, from 2.9 the month before.
\n\nCapacity utilization rose 11.1 points to…
Original source: https://www.breitbart.com/economy/
