Surveys

Texas Manufacturing Outlook Survey

Company Outlook Index

May 2017

Company Outlook—Index

May 16	Jun 16	Jul 16	Aug 16	Sep 16	Oct 16	Nov 16	Dec 16	Jan 17	Feb 17	Mar 17	Apr 17	May 17
Current Company Outlook, seasonally adjusted
–15.9	–10.2	–1.0	–1.3	8.2	3.6	12.7	19.4	25.0	17.6	17.9	15.1	20.2
Future Company Outlook, seasonally adjusted (six months from report period)
4.3	7.8	22.8	16.8	17.7	11.9	35.8	47.1	48.8	35.6	39.1	26.2	30.9

Company Outlook—Composition of Responses

	May 16	Jun 16	Jul 16	Aug 16	Sep 16	Oct 16	Nov 16	Dec 16	Jan 17	Feb 17	Mar 17	Apr 17	May 17
Current Company Outlook, seasonally adjusted
% Improved	11.1	13.5	16.9	17.5	21.2	18.9	27.5	27.4	37.7	29.2	28.9	25.3	29.4
% No Change	61.9	62.8	65.2	63.7	65.8	65.8	57.7	64.5	49.7	59.2	60.1	64.5	61.4
% Worsened	27.0	23.7	17.9	18.8	13.0	15.3	14.8	8.0	12.7	11.6	11.0	10.2	9.2
Future Company Outlook, seasonally adjusted (six months from report period)
% Improved	26.8	22.3	29.5	31.4	28.4	27.6	44.5	53.4	54.6	44.0	47.1	33.7	37.1
% No Change	50.8	63.1	63.8	54.0	60.9	56.7	46.8	40.3	39.6	47.5	44.8	58.8	56.7
% Worsened	22.5	14.5	6.7	14.6	10.7	15.7	8.7	6.3	5.8	8.4	8.0	7.5	6.2

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.