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Texas Manufacturing Outlook Survey

Capital Expenditures Index

September 2016

Report | Results Table

Capital Expenditures—Index

Sep 15Oct 15Nov 15Dec 15Jan 16Feb 16Mar 16Apr 16May 16Jun 16Jul 16Aug 16Sep 16
Current Capital Expenditures, seasonally adjusted

–7.7

–0.1

2.3

1.9

3.4

–1.6

–0.9

1.6

–6.6

–2.1

4.8

–5.7

3.1

Future Capital Expenditures, seasonally adjusted (six months from report period)

17.3

20.0

14.0

18.4

8.9

21.8

13.3

8.5

2.9

7.7

18.8

14.7

13.5

Capital Expenditures—Composition of Responses

Sep 15Oct 15Nov 15Dec 15Jan 16Feb 16Mar 16Apr 16May 16Jun 16Jul 16Aug 16Sep 16
Current Capital Expenditures, seasonally adjusted

% Increase

11.1

10.6

17.1

16.5

16.2

15.7

14.2

13.8

13.3

14.2

12.5

9.9

14.0

% No Change

70.1

78.7

68.1

68.9

71.1

67.0

70.7

74.0

66.8

69.5

79.8

74.5

75.1

% Decrease

18.8

10.7

14.8

14.6

12.8

17.3

15.1

12.2

19.9

16.3

7.7

15.6

10.9

Future Capital Expenditures, seasonally adjusted (six months from report period)

% Increase

26.0

28.0

30.7

29.4

24.1

28.2

23.8

20.2

18.6

18.3

27.1

24.5

25.2

% No Change

65.4

64.0

52.6

59.6

60.7

65.5

65.7

68.1

65.7

71.2

64.6

65.7

63.1

% Decrease

8.7

8.0

16.7

11.0

15.2

6.4

10.5

11.7

15.7

10.6

8.3

9.8

11.7

NOTE: Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase. When the share of firms reporting an increase exceeds the share of firms reporting a decrease, the index will be greater than zero, suggesting the indicator has increased over the prior month. If the share of firms reporting a decrease exceeds the share reporting an increase, the index will be below zero, suggesting the indicator has decreased over the prior month. An index will be zero when the number of firms reporting an increase is equal to the number of firms reporting a decrease. Items may not add up to 100 percent because of rounding.

Questions regarding the Texas Manufacturing Outlook Survey can be addressed to Emily Kerr at emily.kerr@dal.frb.org.

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