STOCKS | Dallas Fed: Texas Manufacturing Activity Index Jumps to 11.6 in August

Texas manufacturing activity accelerated in August, with the Dallas Fed's general business activity index rising to 11.6. According to Sina Finance, the survey was conducted from August 18 to 26 and received 69 responses from 112 manufacturers. Production, new orders, and capacity utilization all strengthened. The production index rose 6 points to 16.1, the new orders index jumped to 22.0 from 6.4 in July, and the capacity utilization index increased to 12.8 from 5.9. Shipment, delivery time, and finished goods inventory indexes also moved higher. Employment growth slowed, while raw material price pressure remained elevated. The employment index fell to 8.0 from 12.2, while the wages and benefits index declined to 21.1 from 30.8. The raw materials prices index rose to 44.1 from 41.3, while the finished goods prices index eased to 22.7 from 25.6. Expectations for the next six months improved broadly. Future production, general business activity, new orders, shipments, employment, and capital spending indexes all rose or remained positive, while additional survey questions showed 43% of manufacturers expected demand to rise and about 45% expected profit margins to increase.