Free Republic

The oil crash is hammering the Texas economy. The latest manufacturing index from the Dallas Fed came in at -16, better than last month's -17.4 reading, but below expectations for -12. Last month's reading was the lowest reading in 2 years. But this report's real impact is seen in the comments form the state's business leaders, which show that the oil crash is still weighing on activity in Texas. Big time. According to a comment from an executive in the fabricated metal manufacturing sector, "Our oil and gas customers have come to a complete stop. It looks like everyone in...

Companies took in more orders and stepped up production in February, a sign demand will sustain the U.S. expansion after a fourth-quarter pickup. The Institute for Supply Management-Chicago Inc. said today its business barometer climbed to a 10-month high of 64 from 60.2 in January. Readings above 50 signal expansion and the figure exceeded all forecasts in a Bloomberg News survey. The Commerce Department raised its growth estimate for the final three months of 2011, to 3 percent from 2.8 percent. Income gains in the second half of 2011 were stronger than previously reported, which may bolster household purchases that...