Texas Manufacturing Sees Year-End Surge

From Industry Week:

Texas manufacturers reported growth for the third month in a row in November, the Dallas Federal Reserve said in its monthly Texas Manufacturing Outlook Survey.

The production index jumped from 13.3 in October to 16.9 in November and capacity utilization also climbed from 11.9 to 16.2, its highest level since March 2011, the bank reported.

New orders dipped slightly from 6.2 to 5.4 in November but remained in growth territory, the seventh consecutive month of increased demand.

Optimism about their companies’ current business conditions climbed from 5.4 in October to 8.0 in November. Said one primary metals manufacturer: “We seem to be having a year-end rush for orders.”

Hiring at Texas manufacturers continued to grow, according to the survey. The November index was 5, moderating from October. Hours worked edged up from 3.9 in October to 4.2 in November , indicating a modest increase in the average workweek.