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The Houston and Texas economies have outlooks for manufacturing.
The Houston and Texas economies have outlooks for manufacturing.
Photo: William Luther, Employee / San Antonio Express-News
The Houston and Texas economies have outlooks for manufacturing.
The Houston and Texas economies have outlooks for manufacturing.
Photo: William Luther, Employee / San Antonio Express-News
According to a survey conducted by the Dallas Federal Reserve, Texas manufacturing activity slowed in October.
The production index, which measures economic activity in this sector, fell by 9 points to 4.5. The new order index turned negative for the first time in three years, dropping 11 points to -4.2. Positive numbers in the exponent indicate magnification, negative values in the sector shrink.
Management reported that the sector is losing momentum. One major metal manufacturing executive wrote that their business was experiencing a "nonspecific slowdown in October."
Texas manufacturing executives reported in a month's survey that tariffs are undermining competition. Other administrations pointed to the slowdown in the energy sector and political uncertainties due to trade and the upcoming presidential election. One executive wrote that uncertainty “induced customers to put their hands in their pockets to see what's going to happen in next year's election.”