Survey says Texas manufacturing outlook is bleak

DALLAS (AP) - Texas manufacturers are painting a bleak picture of current and future factory activity in the nation's No. 2 state for production.

A Federal Reserve Bank of Dallas survey released Monday says Texas businesses are reporting sharp drops in most indicators of current activity. And nearly two-thirds of the 101 firms responding to the November Texas Manufacturing Outlook Survey said their evaluation of general business activity had worsened.

Several indexes for future production fell to their lowest levels since the survey started four years ago. The volume of new orders sunk to a record low, with more than half of those surveyed reporting decreases.

Data for the latest survey were collected Nov. 10-19. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or were unchanged over the previous month.

Texas produces more than 8 percent of manufactured goods in the U.S., behind only California.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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