Texas Manufacturing Activity Improves in March

The manufacturing activity in Texas expanded during March, reaching its best reading on record, according to the data of the Texas Manufacturing Outlook Survey, which started 17 years ago.

The production index rose to 48.0 this month, up from 19.9 in February, data by the Federal Reserve Bank of Dallas showed on Monday.

Meanwhile, the general business activity index rose by 12 points to 28.9.

The new orders index increased by 18 points to 30.5, while the growth rate of orders index leveled up by 11 points to 22.7.

The capacity utilization index surged to 46.1 from 16.5, while the shipments index rose by 17 points to 33.1.

The employment index increased to 18.8, up from 12.7, while the hours worked index jumped from 11.3 to 23.4.

The raw materials prices index increased to 66.0 from 57.4, while the finished goods prices index increased by 9 points to 32.2.

The index for wages and benefits went up by 12 points to 28.0.

The future production and future general business activity indices remained mostly unchanged at 38.3 and 33.7, respectively.