Texas factory activity edged down in May, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, slipped from 4.8 to -2.8. The negative reading signals a slight decline in output from April. Other measures of manufacturing activity also suggested weaker activity this month. The new orders index remained negative, though it inched up to -2.2. The capacity utilization and shipments indexes slipped back into negative territory after turning positive last month, coming in at -2.0 and -3.0, respectively. Perceptions of ... (full story)