Business activity of Texas producers fell sharply in November


The index of the Federal Reserve Bank of Dallas, which determines the level of business activity of producers in the US state of Texas, amounted to 17.6 points in November, having decreased from the October value of 29.4 points. Such a sharp drop was unexpected for experts who had predicted a decrease in the index to only 25 points. According to the FBI Dallas, the index indicating the dynamics of new orders fell in November to 9.7% against 18.9 points a month earlier. The index of outstanding orders of 4.5 points was also below the October value of 5.9 points. Significant drop was also shown by indicators of capacity utilization, purchase prices for raw materials and prices for final products.

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