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Texas Manufacturing Outlook Survey

February 25, 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)
IndicatorFeb IndexJan IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Production

10.1

14.5

–4.4

Increasing

32

30.1

50.0

20.0

Capacity Utilization

7.1

14.8

–7.7

Increasing

32

28.7

49.7

21.6

New Orders

6.9

11.6

–4.7

Increasing

28

31.9

43.0

25.0

Growth Rate of Orders

3.4

1.2

+2.2

Increasing

26

24.9

53.6

21.5

Unfilled Orders

0.7

0.2

+0.5

Increasing

2

17.7

65.3

17.0

Shipments

10.7

11.4

–0.7

Increasing

27

32.7

45.4

22.0

Delivery Time

–1.3

–2.3

+1.0

Decreasing

3

12.2

74.3

13.5

Finished Goods Inventories

–2.5

5.4

–7.9

Decreasing

1

15.0

67.5

17.5

Prices Paid for Raw Materials

21.8

21.2

+0.6

Increasing

36

29.0

63.8

7.2

Prices Received for Finished Goods

5.2

6.4

–1.2

Increasing

31

14.3

76.6

9.1

Wages and Benefits

28.9

27.4

+1.5

Increasing

115

30.1

68.7

1.2

Employment

12.6

6.6

+6.0

Increasing

26

21.8

69.0

9.2

Hours Worked

1.8

3.6

–1.8

Increasing

28

15.8

70.2

14.0

Capital Expenditures

18.7

16.0

+2.7

Increasing

30

27.2

64.3

8.5

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

Company Outlook

14.2

7.1

+7.1

Improving

2

25.2

63.8

11.0

General Business Activity

13.1

1.0

+12.1

Improving

2

24.9

63.3

11.8

IndicatorFeb IndexJan IndexChangeIndicator Direction*Trend** (Months)% Reporting Increase% Reporting
No Change
% Reporting Decrease

Outlook Uncertainty†

4.1

15.6

–11.5

Increasing

9

17.2

69.7

13.1

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

Production

44.3

53.4

–9.1

Increasing

120

50.9

42.5

6.6

Capacity Utilization

40.1

48.2

–8.1

Increasing

120

48.9

42.3

8.8

New Orders

44.9

44.7

+0.2

Increasing

120

51.2

42.5

6.3

Growth Rate of Orders

30.8

38.5

–7.7

Increasing

120

37.6

55.6

6.8

Unfilled Orders

10.8

5.5

+5.3

Increasing

41

21.6

67.6

10.8

Shipments

44.7

43.7

+1.0

Increasing

120

51.2

42.3

6.5

Delivery Time

8.7

4.0

+4.7

Increasing

27

17.2

74.3

8.5

Finished Goods Inventories

5.4

8.6

–3.2

Increasing

16

20.4

64.6

15.0

Prices Paid for Raw Materials

23.7

31.8

–8.1

Increasing

119

32.5

58.8

8.8

Prices Received for Finished Goods

25.9

26.7

–0.8

Increasing

37

32.8

60.3

6.9

Wages and Benefits

47.0

47.7

–0.7

Increasing

177

48.0

51.0

1.0

Employment

33.2

39.4

–6.2

Increasing

75

38.4

56.4

5.2

Hours Worked

11.4

15.6

–4.2

Increasing

33

18.3

74.8

6.9

Capital Expenditures

24.0

34.2

–10.2

Increasing

111

34.6

54.8

10.6

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

Company Outlook

26.7

22.3

+4.4

Improving

37

34.6

57.5

7.9

General Business Activity

17.7

11.7

+6.0

Improving

33

28.9

59.9

11.2

*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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