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Texas Manufacturing Outlook Survey
Summary of Results
February 2010
Company Business Indicators Relating to Facilities and Products in Texas
Current
Indicator
Feb
Index 
Jan
 Index 
 Change 
Indicator
Direction*
Trend**
(months)
%
Reporting
Increase
%
Reporting
No Change
%
Reporting
Decrease
Production
2.3
  
7.4
  
-5.1
  
Increasing
4
26.6
  
49.1
  
24.3
  
Capacity utilization
0.0
  
6.3
  
-6.3
  
Unchanged
1
25.5
  
49.0
  
25.5
  
Volume of new orders
-6.0
  
26.8
  
-32.8
  
Decreasing
1
23.8
  
46.4
  
29.8
  
Growth rate of orders
-3.3
  
11.4
  
-14.7
  
Decreasing
1
22.9
  
50.9
  
26.2
  
Unfilled orders
-2.4
  
2.3
  
-4.7
  
Decreasing
1
14.8
  
68.0
  
17.2
  
Volume of shipments
-1.1
  
11.4
  
-12.5
  
Decreasing
1
25.4
  
48.1
  
26.5
  
Delivery time
3.3
  
-2.2
  
+5.5
  
Increasing
1
7.7
  
87.9
  
4.4
  
Materials inventories
-9.9
  
-10.0
  
+0.1
  
Decreasing
18
13.2
  
63.7
  
23.1
  
Finished goods inventories
-6.6
  
-18.9
  
+12.3
  
Decreasing
21
14.3
  
64.8
  
20.9
  
Prices paid for raw materials
40.9
  
32.6
  
+8.3
  
Increasing
7
41.1
  
58.7
  
0.2
  
Prices received for finished goods
-0.8
  
0.1
  
-0.9
  
Decreasing
1
13.3
  
72.6
  
14.1
  
Wages and benefits
6.6
  
7.8
  
-1.2
  
Increasing
3
11.0
  
84.6
  
4.4
  
Employment
-5.2
  
-4.5
  
-0.7
  
Decreasing
19
9.7
  
75.4
  
14.9
  
Average employee workweek
-5.5
  
1.1
  
-6.6
  
Decreasing
1
16.5
  
61.5
  
22.0
  
Capital expenditures
-8.8
  
-7.9
  
-0.9
  
Decreasing
21
7.7
  
75.8
  
16.5
  
General Business Conditions
Current
 
Indicator
Feb
Index 
Jan
 Index 
 Change 
Indicator
Direction*
Trend**
(months)
%
Reporting
Improved
%
Reporting
No Change
%
Reporting
Worsened
How has the outlook for your
company changed?
-1.3
  
11.5
  
-12.8
  
Worsening
1
19.1
  
60.5
  
20.4
  
What is your evaluation of the level of general business activity?
-0.1
  
8.3
  
-8.4
  
Worsening
1
20.1
  
59.7
  
20.2
  

Company Business Indicators Relating to Facilities and Products in Texas
Six Months Ahead
Indicator
Feb
Index 
Jan
 Index 
 Change 
Indicator
Direction*
Trend**
(months)
%
Reporting
Increase
%
Reporting
No Change
%
Reporting
Decrease
Production
40.0
  
51.8
  
-11.8
  
Increasing
12
47.6
  
44.8
  
7.6
  
Capacity utilization
40.3
  
45.3
  
-5.0
  
Increasing
12
47.3
  
45.7
  
7.0
  
Volume of new orders
48.9
  
51.7
  
-2.8
  
Increasing
14
55.6
  
37.8
  
6.7
  
Growth rate of orders
38.7
  
35.1
  
+3.6
  
Increasing
12
46.7
  
45.2
  
8.0
  
Unfilled orders
16.6
  
9.0
  
+7.6
  
Increasing
8
22.2
  
72.2
  
5.6
  
Volume of shipments
41.9
  
50.5
  
-8.6
  
Increasing
12
52.6
  
36.7
  
10.7
  
Delivery time
2.2
  
-2.2
  
+4.4
  
Increasing
1
11.1
  
80.0
  
8.9
  
Materials inventories
5.6
  
4.5
  
+1.1
  
Increasing
3
20.2
  
65.2
  
14.6
  
Finished goods inventories
-1.1
  
-6.7
  
+5.6
  
Decreasing
26
16.7
  
65.6
  
17.8
  
Prices paid for raw materials
47.8
  
57.3
  
-9.5
  
Increasing
11
48.9
  
50.0
  
1.1
  
Prices received for finished goods
16.6
  
20.7
  
-4.1
  
Increasing
4
23.3
  
70.0
  
6.7
  
Wages and benefits
27.2
  
27.1
  
+0.1
  
Increasing
69
28.1
  
71.0
  
0.9
  
Employment
22.5
  
21.4
  
+1.1
  
Increasing
6
28.1
  
66.3
  
5.6
  
Average employee workweek
28.8
  
23.6
  
+5.2
  
Increasing
12
34.4
  
60.0
  
5.6
  
Capital expenditures
6.8
  
18.0
  
-11.2
  
Increasing
3
16.9
  
73.0
  
10.1
  
General Business Conditions
Six Months Ahead		  
Indicator
Feb
Index 
Jan
 Index 
 Change 
Indicator
Direction*
Trend**
(months)
%
Reporting
Improved
%
Reporting
No Change
%
Reporting
Worsened
How has the outlook for your
company changed?
21.7
  
30.4
  
-8.7
  
Improving
9
33.5
  
54.7
  
11.8
  
What is your evaluation of the level of general business activity?
21.1
  
21.4
  
-0.3
  
Improving
7
32.2
  
56.7
  
11.1
  
*Indicator direction refers to this month's index. If index is positive (negative), indicator is increasing (decreasing) or improving (worsening). If zero, indicator is unchanged.
**Number of months moving in current direction.
Data have been seasonally adjusted as necessary. See information on seasonal adjustment.

NOTE: Each index is calculated by subtracting the percentage reporting a decrease from the percentage reporting an increase. When all firms report that activity has increased, an index will register 100. An index will register –100 when all firms report a decrease. An index will be zero when the number of firms reporting an increase or decrease is equal. Items may not add up to 100% because of rounding.
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