Economy
July 28, 2015
Texas Manufacturing Slump Beginning to Improve
Written by Sandy Williams
Texas manufacturing has been in a slump for several months but is beginning to show signs of improvement. Manufacturing activity in Texas declined slightly in July according to The Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas. Most of the indexes in the survey were in negative numbers but slowly creeping upwards, indicating a slower pace of decline. Texas is home to a large portion of the energy industry which has been under pressure from low oil prices.
The Production Index rose to -1.9 for July, improving for the second month in a row. Likewise, the capacity utilization index increased to -4.1 and shipments index to -4.3.
