Dallas Fed: Robust expansion in Texas manufacturing continues

"Perceptions of broader business conditions were a bit less positive this month versus June, and uncertainty increased. The general business activity index slipped four points to 32.3," the Federal Reserve Bank of Dallas reported on Monday.

Key takeaways from the official publication

• The company outlook index dropped 13 points to 20.4, which is the second-lowest reading this year but still elevated relative to the average. 
• The robust expansion in Texas factory activity continued in July, according to business executives responding to the Texas Manufacturing Outlook Survey.
• The production index, a key measure of state manufacturing conditions, rose six points to 29.4, signaling an acceleration in output growth.
• The survey’s demand measures—the new orders and growth rate of orders indexes—moved down but remained well above average at 23.3 and 17.0, respectively.
• The shipments index climbed five points to 30.8, and the capacity utilization index edged up to 25.0.