Texas Manufacturing Sector Contracts Faster
The Dallas Federal Reserve's general business activity index for Texas manufacturing fell to -8.7 in September 2025, down from -1.7 the previous month, marking a second straight month of contraction and the most significant decline since June. The production index, an essential indicator of the state's manufacturing conditions, registered at 5.2, a 10-point decrease from August, pointing to below-average growth in output. Capacity utilization decreased to 3.9, shipments dropped by eight points to 6.7, and new orders fell by eight points to -2.6, reflecting a slight reduction in demand following August's increase. Labor market indicators showed a minor decline in employment accompanied by a slight increase in work hours. The employment index fell by 12 points to -3.4, its lowest level since April. Price and wage pressures remained stable, with raw materials prices staying elevated at 43.4. Finally, the company outlook index approached zero, and the outlook uncertainty index dipped slightly below the average, reaching 13.9.
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