Surveys

Texas Manufacturing Outlook Survey

October 30, 2017

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Indicator Direction*	Trend** (Months)	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	25.6	19.5	+6.1	Increasing	16	36.8	52.0	11.2
Capacity Utilization	22.5	15.8	+6.7	Increasing	16	34.8	52.9	12.3
New Orders	24.8	18.6	+6.2	Increasing	12	36.7	51.4	11.9
Growth Rate of Orders	12.3	9.7	+2.6	Increasing	10	23.8	64.7	11.5
Unfilled Orders	10.4	8.1	+2.3	Increasing	10	20.1	70.2	9.7
Shipments	20.9	27.4	–6.5	Increasing	11	33.0	54.9	12.1
Delivery Time	3.0	10.1	–7.1	Increasing	4	13.4	76.2	10.4
Materials Inventories	10.6	3.9	+6.7	Increasing	4	20.3	70.0	9.7
Finished Goods Inventories	9.9	–4.5	+14.4	Increasing	1	20.7	68.5	10.8
Prices Paid for Raw Materials	32.3	34.5	–2.2	Increasing	20	36.9	58.5	4.6
Prices Received for Finished Goods	15.3	17.5	–2.2	Increasing	15	18.7	77.9	3.4
Wages and Benefits	22.5	26.4	–3.9	Increasing	95	23.4	75.7	0.9
Employment	16.7	16.3	+0.4	Increasing	10	21.6	73.5	4.9
Hours Worked	13.7	18.4	–4.7	Increasing	12	21.0	71.7	7.3
Capital Expenditures	13.3	13.6	–0.3	Increasing	14	17.2	78.9	3.9

General Business Conditions Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Indicator Direction*	Trend** (Months)	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	25.8	25.6	+0.2	Improving	14	29.8	66.2	4.0
General Business Activity	27.6	21.3	+6.3	Improving	13	30.5	66.6	2.9

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Indicator Direction*	Trend** (Months)	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	46.0	46.5	–0.5	Increasing	104	50.9	44.2	4.9
Capacity Utilization	47.2	44.9	+2.3	Increasing	104	51.1	45.0	3.9
New Orders	45.3	48.7	–3.4	Increasing	104	51.2	42.9	5.9
Growth Rate of Orders	36.7	35.8	+0.9	Increasing	104	43.2	50.3	6.5
Unfilled Orders	10.1	9.7	+0.4	Increasing	25	19.4	71.3	9.3
Shipments	50.8	47.8	+3.0	Increasing	104	54.3	42.2	3.5
Delivery Time	0.5	1.0	–0.5	Increasing	11	11.4	77.7	10.9
Materials Inventories	3.7	10.8	–7.1	Increasing	11	20.7	62.3	17.0
Finished Goods Inventories	–0.9	10.5	–11.4	Decreasing	1	14.2	70.8	15.1
Prices Paid for Raw Materials	36.5	35.9	+0.6	Increasing	103	39.3	57.9	2.8
Prices Received for Finished Goods	18.9	20.0	–1.1	Increasing	21	25.5	67.9	6.6
Wages and Benefits	36.9	39.8	–2.9	Increasing	161	37.9	61.1	1.0
Employment	34.2	41.3	–7.1	Increasing	59	40.1	54.0	5.9
Hours Worked	13.8	17.2	–3.4	Increasing	17	21.3	71.2	7.5
Capital Expenditures	30.2	29.8	+0.4	Increasing	95	34.9	60.4	4.7

General Business Conditions Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Indicator Direction*	Trend** (Months)	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	39.0	39.9	–0.9	Improving	21	41.1	56.8	2.1
General Business Activity	38.5	34.5	+4.0	Improving	17	38.9	60.7	0.4

*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.

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