A International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) worker gestures at the General Motors Assembly Plant in Arlington, Texas June 9, 2015. (Photo: Reuters)
The Dallas Fed Texas Manufacturing Outlook Survey cooled in March to 21.4, though factory activity continued to expand. The production index, a key measure of state manufacturing conditions, declined 15 points to 12.7, indicating a reduction in output growth.
The new orders and growth rate of orders indexes declined by 8.3 and 3.8, respectively, while the capacity utilization index fell to 9.6 and the shipments index lost 23 points to 9.3.
However, even though these indexes are down sharply from their February readings, they are well above their post-recession averages.
Expectations regarding future business conditions remained optimistic in March. The indexes of future general business activity and future company outlook fell to 32.0 and 30.9, respectively. But both remained significantly above their average readings, as well.
Other indexes for future manufacturing activity showed mixed movements but remained highly positive.
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A little bump in the road..