DALLAS- The Dallas Federal Reserve indicated Tuesday that factory activity was little changed in May.
Overall manufacturing activity was strong in the first quarter, but appears to be leveling off with May levels for production, volume of new orders, volume of shipments and company outlook near April levels.
The growth rate of orders, unfilled orders and numbers of employees increased to 10.5, 4.0 and 19.6, respectively.
Capacity utilization slipped from 25.2 in April to 19.2 in May.
Prices for raw materials increased to 40.8 and prices for finished goods rose to 20. Both indexes are expected to rise over the next six months.
Participants were optimistic on future business activity, with slightly more than half expecting an increase in production and volume of new orders six months from now.
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