Coronavirus Impacts Texas Manufacturing Sector

Apr 17, 2020

TX MANUFACTURING - Graph reveals manufacturers in Texas had production and new orders decline similar to the Great Recession of 2008.
Credit Courtesy: Federal Reserve Bank of Dallas

TEXAS MANUFACTURING TAKES A HIT -  The Texas manufacturing sector is suffering business losses not seen since the Great Recession. That's according to a new survey from the Federal Reserve Bank of Dallas. Fed economist Emily Kerr says the 110 manufacturers who took the survey saw deep declines in production  for the  month of March.

"The new orders dropped even lower meaning that this isn't expected to be an extremely short term thing ," explained Kerr. "They're also noting demand impacts for their orders going forward."

Kerr adds a majority of respondents expect business to begin rebounding within the next six months.

To see the report: CLICK  Texas Manufacturing Outlook Survey