The Texas manufacturing sector continued picking up speed this month compared to , according to the the Federal Reserve Bank of Dallas released Monday. Its monthly poll of company executives found production, new orders and shipments all increased in November from levels that have already been well-above average over the past few months.
鈥淎nd this is despite widespread supply chain disruptions and a lot of difficulty finding workers,鈥� said Dallas Fed senior business economist Emily Kerr. 鈥淪o far they鈥檝e been able to continue to power through and have been in expansionary and recovery territory for quite a while.鈥�
Nearly 93% of the survey respondents, who answered related to the pandemic, reported supply chain disruptions or delays. The survey also showed growing pessimism among manufacturers about when the shortages of raw materials will end.
鈥淚t鈥檚 almost split between about two-thirds saying they expect more than six months before their supply chains return to normal; and then just over a third saying within six months,鈥� Kerr said.
In contrast, Kerr said expectations regarding future manufacturing activity were generally more positive this month.
鈥淚 think right now it鈥檚 sort of a mixed bag with some manufacturers still working to recover where they were pre-pandemic, while others are continuing to grow beyond that,鈥� Kerr said.