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Thursday, July 2, 2020
HomeNewsEconomyTexas Manufacturing Activity Rebounds Stronger than Expected in May

Texas Manufacturing Activity Rebounds Stronger than Expected in May

Manufacturing Export Wooden Crate, reading Made in Texas. 3D Illustration. (Photo: AdobeStock)

Dallas Fed’s Texas Manufacturing Outlook Survey Still Negative, But Bounces Back More than Forecast

Dallas, Tx. (PPD) — The Texas Manufacturing Outlook Survey rebounded stronger than expected in May, according to the Federal Reserve Bank of Dallas. The general business activity index rose from -74.0 to -49.2.

Forecasts ranged from a low of -65.0 to a high of -53.0. The consensus forecast was -57.0.

Manufacturing Export Wooden Crate, reading Made in Texas. 3D Illustration. (Photo: AdobeStock)
Manufacturing Export Wooden Crate, reading Made in Texas. 3D Illustration. (Photo: AdobeStock)

The key production index was still negative, indicating contraction, but improved from -55.6 to -28.0. The company outlook index rose nearly 30 points to -34.6, though just 12% reported an improved outlook.

Data were collected May 12 to May 20, and 115 Texas manufacturers responded to the survey. The next release is scheduled for Monday, June 29.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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