Dallas Fed: Manufacturing Indexes Ease in May

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The May Texas Manufacturing Outlook Survey from the Federal Reserve Bank of Dallas indicates positive but slower growth in the state’s manufacturing sector. The top line production index fell almost ten points but remained in positive territory at +9.4, close to its historical average. Similarly, the new orders, capacity utilization and shipments indexes all fell m/m but remained positive. The growth rate of orders index however, fell into negative territory. Employment measures remained flat. Despite the erosion in current measures in May, Texas manufacturers remain optimistic, with the production, capacity utilization, new orders, and shipments six-month forward expectations indexes all remaining in solidly positive territory.

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