Dallas Fed Sep Production Index

Dallas Fed Sep Production Index -0.5 Vs -9.7 In Aug

NEW YORK (Dow Jones)--Texas-area overall manufacturing activity was still contracting in September but production was close to neutral, according to a report released Monday by the Federal Reserve Bank of Dallas.

The bank said its production index for the current month rose to -0.5 from -9.7 in August, while its general activity index improved to -6.4 from -9.1.

In the report, readings below 0 indicate contraction, and positive numbers indicate expanding activity.

The Dallas Fed said hiring also showed some progress, though the index remained in negative territory. The employment index stood at -8.1 from -15.7 in the prior month.

The new-orders index turned positive in September, rising to 8.0 from -1.7 in August. The shipments index also turned positive, increasing to 0.3 from -11.2 in August.

The prices-paid index, at 9.8, was near the 9.9 reading of August, while the prices-received index was -17.9 from -21.4.The gap between prices paid and prices received indicates that, while energy prices may by pushing up input costs, companies still have little power to mark up the prices of their own products.

In August, the Dallas Fed began to include data based on seasonal adjustments.