Manufacturing in Texas flat in May

DALLAS, May 29 (UPI) -- The Dallas Federal Reserve Bank said data showed manufacturing rose in Texas in May, but the pace of new orders remained flat.

For the third consecutive month "the new orders index posted a near-zero reading," the Fed said.

For the survey, numbers above zero indicate growth, while below zero indicates contraction.

The state's production index "held steady at 5.5," the bank said.

The employment index rose with 18 percent of firms indicting they were hiring new workers and 10 percent indicating they were laying off workers.

The Fed said 15 percent of the respondents indicated an improvement in business activity, while 20 percent indicated business activity had grown worse in the month.