Dallas Fed: Manufacturing continues to expand but at slower pace

"Texas factory activity increased in June, according to business executives responding to the Texas Manufacturing Outlook Survey," the Federal Reserve Bank of Dallas said on Monday.

Key highlights:

• The general business activity index edged down to 15.0
• The production index, a key measure of state manufacturing conditions, fell 11 points to 12.3, indicating output grew but at a slower pace than in May
• The new orders and growth rate of orders indexes fell several points each, coming in at 9.6 and 4.7, respectively
• The capacity utilization index moved down to 12.3, and the shipments index retreated to 8.5 after surging last month
• The employment index posted a sixth consecutive positive reading and edged up to 9.6