Economic activity in Texas is still plunging
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Manufacturing activity in Texas is still falling.
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The latest manufacturing index from the Dallas Fed came in at -16, better than last month's -17.4 reading, but below expectations for -12.
Last month's reading was the lowest reading in 2 years.
The production index, which gives a broader overview of economic activity in Texas, came in at -4.7, the second straight negative reading.
As we've followed in recent months, the real impact from this report will be seen in commentary from Texas business leaders who provide insight on how the oil crash is hitting the state's economy.
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More to come ...
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