Texas assembly lines shutting down but decline could be abating

Factory production in Texas continued to decline in May, though the speed of the decline appears to be lessening, according to the latest survey by the Federal Reserve Bank of Dallas.

Over half of the 115 manufacturers surveyed by the Dallas Fed between May 12 and 20 said that customers were ordering less, and 45% said that they were making fewer products as a result. That’s compared to 21% that reported receiving new orders and 17% that reported production increases over the same period.

Although…