Texas Manufacturing Gains Speed Despite Supply Chain Disruptions
TEXAS MANUFACTURING SURVEY- The Federal Reserve Bank of Dallas reports expansion in the Texas manufacturing sector continues gaining speed despite widespread supply chain disruptions. Its monthly survey of company executives out today shows accelerating growth in production, new orders and shipments. The Fed’s Economist Emily Kerr says that's even though the Dallas Fed's index for raw materials prices hit an all-time high.
“The environment that these manufacturers are working in have some things pressing against them, but so far they’ve been able to continue to power through and have been in expansionary and recovery territory for quite a while,” Kerr said.
Economist Kerr says nearly two-thirds of manufacturers who responded to the survey do not expect supply chain issues will return to normal within the next six months.