Fed Reports Offer Mixed Picture of US Manufacturing

Published on October 1, 2024

Texas manufacturing contracted in September for the 28th straight month, according to a recent survey by the Federal Reserve Bank of Dallas, one of several regional reports that gave a mixed picture of the nation’s factories. The Federal Reserve Bank of Dallas Manufacturing Index was negative 9.0 in September, up from negative 9.7 in August. This was worse than the consensus estimate of negative 4.5. According to the regional central bank survey, which targeted business executives in manufacturing in Texas, new orders, production, and capacity utilization tumbled, highlighting persistent lackluster momentum for the wider manufacturing industry. Employment rebounded after the August decline. Increases in input and output costs also slowed....

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