The Federal Reserve Bank of Dallas reported Monday its general business activity index for manufacturing in Texas rose to 28.9 in March from an unrevised 17.2 in February, pointing to expansion in Texas factory activity for the eighth straight month. This was the highest reading since August 2018 as well.

According to the report, the production index, a key measure of state manufacturing conditions, came in at 48.0 in March, up 28.1 points from February, indicating a record output growth. The new orders index jumped 17.5 points to 30.5, and the growth rate of orders index increased 11.1 points to 22.7. The shipments index surged 17.0 points to 33.1, while the capacity utilization index climbed 29.6 points to 46.1, its all-time high. Elsewhere, the employment index rose 6.1 points to 18.8, suggesting robust hiring.