MNI BRIEF: Dallas Fed Region Manufacturing Activity Picks Up

Texas factory activity picked up in December, according to Federal Reserve Bank of Dallas survey Monday, as output, hiring and price pressures accelerated. The general business activity index edged down to 9.7 from 12.0, a tad below market expectations for 10.2, as uncertainty over the outlook rose, but production, new orders and capacity utilization indexes all rose.

Thirty percent of firms noted net hiring this month, the Dallas Fed said, while 10% noted net layoffs. Both raw materials and finish goods prices indexes shot up to two-year highs, and the company outlook index rose to 16.8 from 11.0.