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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.

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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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