04/29/2024 | Press release | Distributed by Public on 04/29/2024 16:43
News Releases
April 29, 2024
DALLAS-Texas factory output strengthened slightly in April, while other measures of manufacturing activity were mixed, according to business executives responding to the Texas Manufacturing Outlook Survey.
"Survey measures of Texas' manufacturing sector signaled slight production growth and flat employment in April," said Emily Kerr, senior business economist at the Dallas Fed. "Firms' perceptions of general business conditions continue to worsen, and outlooks are quite mixed."
Key takeaways from this month's survey:
The Dallas Fed asked a series of special questions on artificial intelligence (AI) in the Texas Business Outlook Surveys and heard back from 363 business executives (services and manufacturing) April 16-24.
Key takeaways from the special questions:
"At firms where AI has impacted employment, it is more likely to change the type of worker needed than the number of workers," Kerr said. "Firms said the top benefits of using AI were increased productivity and access to better or more timely information. Misinformation and privacy issues were top concerns."
For more information visit DallasFed.org.
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Media contact:
Jon Prior
Federal Reserve Bank of Dallas
Phone: 214-922-6857
Email: [email protected]