Texas Manufacturing Output Maintains Expansion Despite Decline

Texas manufacturing activity maintained a positive trend during April, according to data by the Federal Reserve Bank of Dallas released on Monday.

The production index declined to 34 in April, down from its all-time record high of 48 in March, as shown by the Texas Manufacturing Outlook Survey results.

The general business activity index leveled up to 37.3 in April from 28.9 in March.

Meanwhile, the new orders index increase by eight points to 38.5, its highest level on record.

The orders index added 10 points reach a record 32.3.

The gauge of capacity utilization decreased to 34.6 from 46.1 in March.

The shipments index remained nearly unchanged at 32.6, while the employment index surged to a new high of 31.3 from 18.8 last month.