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Dallas Fed says Texas manufacturing at best levels in three years

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Texas manufacturing activity picked up pace in May, surging to its highest level in three years as factories used more of their capacity and produced more goods, the Federal Reserve Bank of Dallas said Tuesday.

The Texas production index, a key measure of manufacturing activity, increased 7.9 points to 23.3, according to the Dallas Fed’s Texas Manufacturing Outlook Survey. The index, which polled 113 Texas companies between May 16 and 24, reached its the highest level since April 2014. The index measures the amount of goods that companies produce.

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