Dallas Fed: October sees less optimism of business conditions but manufacturing activity strengthens

Perceptions of business conditions in Texas were less optimistic in October, as the Dallas Fed manufacturing business index came in at 3.6 - still positive, but down from last month's reading of 12.8.

Texas produces more than 11 per cent of total manufactured goods in the US, putting it second behind California in factory production.

The production index rose from 11.5 to 13.3, suggesting output rose at a slightly faster rate than in September.