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Texas Manufacturing Outlook Survey

December 31, 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)
IndicatorDec IndexNov IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Production

7.3

8.4

–1.1

Increasing

30

24.6

58.1

17.3

Capacity Utilization

7.6

9.4

–1.8

Increasing

30

20.9

65.8

13.3

New Orders

14.4

9.7

+4.7

Increasing

26

34.1

46.2

19.7

Growth Rate of Orders

5.8

4.8

+1.0

Increasing

24

23.5

58.8

17.7

Unfilled Orders

–2.3

4.5

–6.8

Decreasing

1

15.1

67.5

17.4

Shipments

6.1

7.7

–1.6

Increasing

25

27.0

52.1

20.9

Delivery Time

–3.2

1.8

–5.0

Decreasing

1

8.6

79.6

11.8

Finished Goods Inventories

1.9

2.6

–0.7

Increasing

5

16.4

69.1

14.5

Prices Paid for Raw Materials

28.8

33.7

–4.9

Increasing

34

36.6

55.6

7.8

Prices Received for Finished Goods

6.6

7.5

–0.9

Increasing

29

16.5

73.6

9.9

Wages and Benefits

29.2

24.9

+4.3

Increasing

113

29.2

70.8

0.0

Employment

11.0

15.9

–4.9

Increasing

24

21.7

67.6

10.7

Hours Worked

5.0

4.9

+0.1

Increasing

26

14.1

76.8

9.1

Capital Expenditures

14.2

9.2

+5.0

Increasing

28

23.9

66.4

9.7

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

Company Outlook

–3.4

13.7

–17.1

Worsening

1

17.9

60.8

21.3

General Business Activity

–5.1

17.6

–22.7

Worsening

1

17.0

60.9

22.1

IndicatorDec IndexNov IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Outlook Uncertainty†

9.2

12.3

–3.1

Increasing

7

23.9

61.5

14.7

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

Production

32.7

52.9

–20.2

Increasing

118

48.4

35.8

15.7

Capacity Utilization

30.5

43.4

–12.9

Increasing

118

43.6

43.2

13.1

New Orders

32.4

47.8

–15.4

Increasing

118

47.5

37.4

15.1

Growth Rate of Orders

23.1

32.1

–9.0

Increasing

118

37.7

47.7

14.6

Unfilled Orders

1.4

6.9

–5.5

Increasing

39

12.9

75.6

11.5

Shipments

32.4

46.4

–14.0

Increasing

118

45.5

41.4

13.1

Delivery Time

8.9

1.7

+7.2

Increasing

25

17.2

74.5

8.3

Finished Goods Inventories

2.0

3.8

–1.8

Increasing

14

21.6

58.8

19.6

Prices Paid for Raw Materials

34.3

36.2

–1.9

Increasing

117

41.0

52.4

6.7

Prices Received for Finished Goods

26.7

29.2

–2.5

Increasing

35

36.2

54.3

9.5

Wages and Benefits

45.0

44.8

+0.2

Increasing

175

47.0

51.0

2.0

Employment

28.2

42.0

–13.8

Increasing

73

36.9

54.4

8.7

Hours Worked

10.8

9.3

+1.5

Increasing

31

18.5

73.8

7.7

Capital Expenditures

24.7

34.1

–9.4

Increasing

109

37.0

50.7

12.3

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

Company Outlook

8.8

31.4

–22.6

Improving

35

27.6

53.6

18.8

General Business Activity

3.2

25.7

–22.5

Improving

31

26.7

49.7

23.5

*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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