Texas Manufacturing Continues to Drive Job Growth

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From the Federal Reserve Bank of Dallas:

The production index, a key measure of state manufacturing conditions, moved down three points to 15.4, suggesting output growth continued but at a slightly slower pace this month.

The survey’s demand indicators saw upward movement, with the new orders and growth rate of orders indexes edging up to 11.5 and 5.1, respectively. The shipments index also moved up, rising three points to 9.5. The capacity utilization index fell slightly but stayed positive for a 10th month in a row, coming in at 11.5.

The general business activity index held steady at 16.8, and the company outlook index inched down but remained positive at 15.1.

The employment index posted a fourth consecutive positive reading and remained unchanged at 8.5. Eighteen percent of firms noted net hiring, compared with 9 percent noting net layoffs. 

All in all, a strong economy and strong job market bode well for Texas real estate markets, including Dallas.