Dallas Fed: Manufacturing expansion slows but remains solid in November

"Texas factory activity continued to expand in November, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, fell 10 points from its October reading but remained elevated at 15.1," the Federal Reserve Bank of Dallas announced on Monday.

Perceptions of broader business conditions remained highly positive in November.

The general business activity index came in at 19.4, down eight points from October.

The company outlook index posted its 15th consecutive positive reading but dipped to 18.5.

The employment index fell 10 points from October to 6.3, reflecting a more normal index level after several months of elevated readings.

The raw materials prices and finished goods prices indexes held steady at 32.2 and 15.1, respectively.

The wages and benefits index moved down eight points to 14.2, slightly below the average reading for that index.