Federal Reserve Bank of Dallas (06/30/2014)

The Federal Reserve Bank of Dallas reports a gain in factory activity, with the production index as measured by the Texas Manufacturing Outlook Survey rising to 15.5 in June from 11.0 in May. The new orders index climbed from 3.8 to 6.5, the general business activity index edged up from 8.0 to 11.4, and the company outlook index jumped four points to 8.4.

Meanwhile, the employment index surged from 2.9 in May to 13.1 in June, with 21% of the 112 manufacturers surveyed reporting net hiring and only 8% reporting net layoffs. Hours worked also increased from 2.8 to 4.7. The survey reveals a gain in the index of future general business activity of seven points to 18.7, and the index of future company outlook of 14 points to 33.8, marking a three-year high.