29/07/2024 | Press release | Archived content
News Releases
July 29, 2024
DALLAS-Texas factory activity was flat again in July, according to business executives responding to the Texas Manufacturing Outlook Survey.
"Texas manufacturing production held steady in July, while demand weakened," said Emily Kerr, senior business economist at the Dallas Fed. "Outlooks worsened, and uncertainty spiked. A bright spot this month was a rebound in the survey's employment index, which signaled net hiring after weakness the past few months."
Key takeaways from this month's survey:
The Dallas Fed asked a series of special questions on labor market and financial conditions in the Texas Business Outlook Surveys and heard back from 333 business executives (services and manufacturing) June 16-24.
"About half of firms report they are currently trying to hire, and a lack of applicants remains the top hiring impediment though the share citing it retreated further to 41 percent, down from a peak of 76 percent two years ago," Kerr said. "Applicant availability and firms' ability to retain workers continue to improve."
Key takeaways from the special questions:
For more information visit DallasFed.org.
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Media contact:
Jon Prior
Federal Reserve Bank of Dallas
Phone: 214-922-6857
Email: [email protected]