Texas factory activity increased again in July, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey. The production index—a key measure of state manufacturing conditions—rose 11 points to 22.8, indicating output grew at a faster pace than in June.
Other measures of current manufacturing activity also indicated a pickup in growth. The new orders and the growth rate of orders indexes rose several points each, coming in at 16.1 and 12.2, respectively. The capacity utilization index moved up to 18.1, and the shipments index increased three points to 11.6.
Perceptions of broader business conditions improved again in July, with a sharp pickup in outlooks. The general business activity index edged up to 16.8. The company outlook index jumped 15 points to 25.9, reaching its highest level since 2010.