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Texas Manufacturing Outlook Survey

January 28, 2019

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

14.5

7.3

+7.2

Increasing

31

33.4

47.7

18.9

Capacity Utilization

14.8

7.6

+7.2

Increasing

31

31.9

51.0

17.1

New Orders

11.6

14.4

–2.8

Increasing

27

33.2

45.1

21.6

Growth Rate of Orders

1.2

5.8

–4.6

Increasing

25

24.9

51.4

23.7

Unfilled Orders

0.2

–2.3

+2.5

Increasing

1

13.6

73.0

13.4

Shipments

11.4

6.1

+5.3

Increasing

26

31.0

49.4

19.6

Delivery Time

–2.3

–3.2

+0.9

Decreasing

2

9.5

78.7

11.8

Finished Goods Inventories

5.4

1.9

+3.5

Increasing

6

19.8

65.8

14.4

Prices Paid for Raw Materials

21.2

28.8

–7.6

Increasing

35

32.1

57.0

10.9

Prices Received for Finished Goods

6.4

6.6

–0.2

Increasing

30

14.9

76.6

8.5

Wages and Benefits

27.4

29.2

–1.8

Increasing

114

28.9

69.6

1.5

Employment

6.6

11.0

–4.4

Increasing

25

16.1

74.4

9.5

Hours Worked

3.6

5.0

–1.4

Increasing

27

17.1

69.4

13.5

Capital Expenditures

16.0

14.2

+1.8

Increasing

29

23.3

69.4

7.3

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

Company Outlook

7.1

–3.4

+10.5

Improving

1

23.1

60.9

16.0

General Business Activity

1.0

–5.1

+6.1

Improving

1

17.3

66.4

16.3

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

Outlook Uncertainty†

15.6

9.2

+6.4

Increasing

8

27.5

60.6

11.9

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

53.4

32.7

+20.7

Increasing

119

58.3

36.8

4.9

Capacity Utilization

48.2

30.5

+17.7

Increasing

119

53.1

42.0

4.9

New Orders

44.7

32.4

+12.3

Increasing

119

52.3

40.1

7.6

Growth Rate of Orders

38.5

23.1

+15.4

Increasing

119

46.0

46.5

7.5

Unfilled Orders

5.5

1.4

+4.1

Increasing

40

19.1

67.3

13.6

Shipments

43.7

32.4

+11.3

Increasing

119

51.4

40.9

7.7

Delivery Time

4.0

8.9

–4.9

Increasing

26

13.1

77.8

9.1

Finished Goods Inventories

8.6

2.0

+6.6

Increasing

15

19.2

70.2

10.6

Prices Paid for Raw Materials

31.8

34.3

–2.5

Increasing

118

38.5

54.8

6.7

Prices Received for Finished Goods

26.7

26.7

0.0

Increasing

36

35.6

55.4

8.9

Wages and Benefits

47.7

45.0

+2.7

Increasing

176

47.7

52.3

0.0

Employment

39.4

28.2

+11.2

Increasing

74

45.4

48.6

6.0

Hours Worked

15.6

10.8

+4.8

Increasing

32

23.0

69.6

7.4

Capital Expenditures

34.2

24.7

+9.5

Increasing

110

40.9

52.4

6.7

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

Company Outlook

22.3

8.8

+13.5

Improving

36

32.9

56.5

10.6

General Business Activity

11.7

3.2

+8.5

Improving

32

26.8

58.1

15.1

*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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