facebook
twitter
rss
account
search
search
 

Manufacturing expands in Texas

Jan. 28, 2013 at 2:16 PM   |   Comments

DALLAS, Jan. 28 (UPI) -- The Dallas Federal Reserve Bank said the pace of growth in Texas manufacturing production rose sharply in January.

The business production index for the state jumped from 3.5 to 12.9 which indicates faster growth in manufacturing.

The report has more than a modicum of influence nationwide, as manufacturers in Texas produce 9 percent of the nation's manufactured goods -- the second highest in the United States behind California.

In January, the new orders index for Texas manufacturing concerns climbed 13 points to 12.2, the highest reading since March 2011, the Fed said.

Readings more than zero indicate growth, while readings less than zero indicate contraction.

The shipments index for firms in Texas rose by nine points to 21.9. The general business activity index rose from 2.5 to 5.5.

The employment index climbed from less than zero to 8.7, as 20 percent of employers indicated they were hiring while 11 percent indicated they were laying off workers.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
2
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
3
Boeing exploring collaboration with Danish firm to develop UAV Boeing exploring collaboration with Danish firm to develop UAV
4
Creator of 'Honey Badger Don't Care' brand sues for trademark infringement Creator of 'Honey Badger Don't Care' brand sues for trademark infringement
5
Anheuser-Busch not satisfied with the way NFL has handled recent incidents Anheuser-Busch not satisfied with the way NFL has handled recent incidents
Trending News
Video
x
Feedback