Texas manufacturing activity rebounded sharply in July, with production hitting a three-year high and outlooks turning positive after months of gloom, according to the Federal Reserve Bank of Dallas.
The production index—a key measure of factory conditions—jumped 20 points to 21.3, its strongest reading since mid-2021. Economists had expected a far weaker report, with the consensus forecast calling for a headline general business activity index of -9.0, according to Econoday. Instead, the index rose 14 points to -0.9, signaling a stabilization in activity after five consecutive months of deterioration.
Other gauges also improved. New orders…
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