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Texas Manufacturing Outlook Survey

January 29, 2018

Results Table

Report


Historical data are available from June 2004 to the most current release month.

Business Indicators Relating to Facilities and Products in Texas
Current (versus previous month)
IndicatorJan IndexDec IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Production

16.8

32.8

–16.0

Increasing

19

35.7

45.4

18.9

Capacity Utilization

14.5

26.3

–11.8

Increasing

19

31.7

51.1

17.2

New Orders

25.5

30.1

–4.6

Increasing

15

38.3

48.8

12.8

Growth Rate of Orders

15.5

21.4

–5.9

Increasing

13

28.5

58.5

13.0

Unfilled Orders

7.1

9.2

–2.1

Increasing

13

18.2

70.7

11.1

Shipments

27.1

21.5

+5.6

Increasing

14

40.4

46.4

13.3

Delivery Time

9.0

8.0

+1.0

Increasing

7

16.5

76.0

7.5

Finished Goods Inventories

0.0

–2.0

+2.0

Unchanged

1

14.6

70.8

14.6

Prices Paid for Raw Materials

33.5

32.5

+1.0

Increasing

23

36.1

61.3

2.6

Prices Received for Finished Goods

22.3

17.9

+4.4

Increasing

18

25.7

70.9

3.4

Wages and Benefits

23.3

25.1

–1.8

Increasing

98

26.9

69.5

3.6

Employment

15.2

20.4

–5.2

Increasing

13

26.9

61.4

11.7

Hours Worked

13.4

23.3

–9.9

Increasing

15

26.9

59.6

13.5

Capital Expenditures

20.0

19.0

+1.0

Increasing

17

24.6

70.7

4.6

General Business Conditions
Current (versus previous month)
IndicatorJan IndexDec IndexChangeIndicator Direction*Trend** (Months)% Reporting Improved% Reporting
No Change
% Reporting Worsened

Company Outlook

27.8

31.5

–3.7

Improving

17

34.6

58.6

6.8

General Business Activity

33.4

29.7

+3.7

Improving

16

39.0

55.4

5.6

IndicatorJan IndexDec IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Outlook Uncertainty†

–8.3

#N/A

#N/A

Decreasing

1

11.5

68.8

19.8

Business Indicators Relating to Facilities and Products in Texas
Future (six months ahead)
IndicatorJan IndexDec IndexChangeIndicator DirectionTrend* (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Production

51.6

47.4

+4.2

Increasing

107

59.2

33.2

7.6

Capacity Utilization

46.4

39.9

+6.5

Increasing

107

54.9

36.6

8.5

New Orders

51.2

50.8

+0.4

Increasing

107

56.1

39.0

4.9

Growth Rate of Orders

40.4

40.1

+0.3

Increasing

107

44.6

51.2

4.2

Unfilled Orders

14.0

16.2

–2.2

Increasing

28

21.5

71.0

7.5

Shipments

50.2

46.9

+3.3

Increasing

107

54.9

40.4

4.7

Delivery Time

5.7

6.9

–1.2

Increasing

14

15.8

74.1

10.1

Finished Goods Inventories

11.7

12.4

–0.7

Increasing

3

22.3

67.0

10.6

Prices Paid for Raw Materials

44.0

52.1

–8.1

Increasing

106

46.2

51.6

2.2

Prices Received for Finished Goods

36.2

42.7

–6.5

Increasing

24

41.5

53.2

5.3

Wages and Benefits

56.9

44.2

+12.7

Increasing

164

59.9

37.1

3.0

Employment

44.5

36.6

+7.9

Increasing

62

53.3

37.9

8.8

Hours Worked

14.4

13.5

+0.9

Increasing

20

22.6

69.2

8.2

Capital Expenditures

36.2

43.2

–7.0

Increasing

98

43.6

48.9

7.4

General Business Conditions
Future (six months ahead)
IndicatorJan IndexDec IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Worsened

Company Outlook

43.2

40.1

+3.1

Improving

24

47.4

48.4

4.2

General Business Activity

44.5

40.9

+3.6

Improving

20

48.1

48.3

3.6

*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.

†Added to survey in January 2018.

Data have been seasonally adjusted as necessary, with the exception of the outlook uncertainty index which does not yet have a sufficiently long time series to test for seasonality.

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

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