The Dallas Federal Reserve Bank said Texas manufacturing production expanded in October at a faster pace than September.
The production index for the state rose from 11.5 to 13.3, "suggesting output increased at a slightly faster pace than in September," the Fed said.
Component indexes for new orders, capacity utilization and shipments also moved "further into positive territory," the Dallas branch of the Federal Reserve said.
The new orders index came in at 6.2 in October, while the capacity utilization index rose to 11.9. The shipment index added 3 points to 13.2.
Respondents indicated a positive attitude about future business conditions, but two measures of future business projections showed slightly less optimism than was indicated in September.
The general business activity index fell 3.6 points, but remained positive at 12.8. The company outlook index slipped to 5.4, posting a fifth consecutive positive reading.
Employment indexes "reflected continued employment growth and longer workweeks," the Fed said.
The number of employees index held steady at 9.6, while the number of hours of work per week index came in at 3.9, its first positive reading in three months.
Sixteen percent of respondents indicated their company was hiring while 7 percent indicated their company was laying off workers, the survey said.
Most Popular Stories
- Small Businesses Could Get Paid Faster
- Downside of Low Mortgage Rates: Less Selling
- Correction: North Dakota Saltwater Spill Story
- Economists Sharply Cut Forecasts for U.S. Growth
- Bundy Ranch Standoff Has Spurred Radical Right
- Reynolds, Lorillard in Merger Talks
- NHTSA Probes Ford Steering Problems
- House Votes to Make Bonus Depreciation Permanent
- Wells Fargo Profit Up, Revenue Down
- Liverpool Sells Luis Suarez to Barcelona