Survey: Texas manufacturers worried about oil price slide

The Houston Chronicle reports:

Texas manufacturers are worried about what plummeting oil prices could mean for business in 2015, according to the Federal Reserve Bank of Dallas’ monthly survey.

Dallas Fed data showed that manufacturing activity increased in December even as demand moderated.

The Texas production index, a measure of the state’s manufacturing climate, increased from six to 15.6 since November, the Dallas Fed said.

But other measures showed that demand slowed: the new orders index fell from 5.6 to 1.3; and the survey’s composite index, expected to come in at 9, missed the mark at 4.1.

Several manufacturing executives expressed pessimism over how falling oil would affect business next year.

Oil update.