Texas Manufacturing Outlook Survey
October 28, 2019
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 4.5 | 13.9 | –9.4 | 10.6 | 40(+) | 25.1 | 54.3 | 20.6 |
Capacity Utilization | 3.6 | 12.0 | –8.4 | 8.2 | 40(+) | 20.3 | 63.0 | 16.7 |
New Orders | –4.2 | 7.1 | –11.3 | 6.5 | 1(–) | 22.0 | 51.8 | 26.2 |
Growth Rate of Orders | –5.9 | 4.4 | –10.3 | 0.1 | 1(–) | 16.1 | 61.9 | 22.0 |
Unfilled Orders | –9.4 | –2.0 | –7.4 | –2.8 | 4(–) | 6.5 | 77.6 | 15.9 |
Shipments | 6.0 | 14.7 | –8.7 | 9.3 | 35(+) | 27.1 | 51.8 | 21.1 |
Delivery Time | –4.2 | 2.3 | –6.5 | –0.5 | 1(–) | 7.3 | 81.2 | 11.5 |
Finished Goods Inventories | –4.5 | –6.2 | +1.7 | –3.0 | 7(–) | 13.8 | 67.9 | 18.3 |
Prices Paid for Raw Materials | 22.8 | 20.3 | +2.5 | 24.8 | 43(+) | 29.5 | 63.8 | 6.7 |
Prices Received for Finished Goods | 4.8 | 1.0 | +3.8 | 6.5 | 2(+) | 13.4 | 78.0 | 8.6 |
Wages and Benefits | 22.2 | 17.4 | +4.8 | 18.8 | 123(+) | 22.8 | 76.6 | 0.6 |
Employment | 11.0 | 18.8 | –7.8 | 6.6 | 34(+) | 20.3 | 70.4 | 9.3 |
Hours Worked | 4.7 | 5.7 | –1.0 | 2.8 | 36(+) | 15.3 | 74.1 | 10.6 |
Capital Expenditures | 13.6 | 11.1 | +2.5 | 7.0 | 38(+) | 22.9 | 67.8 | 9.3 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 8.8 | 7.4 | +1.4 | 7.3 | 3(+) | 21.2 | 66.4 | 12.4 |
General Business Activity | –5.1 | 1.5 | –6.6 | 3.0 | 1(–) | 13.0 | 68.9 | 18.1 |
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 12.1 | 13.3 | –1.2 | 9.5 | 17(+) | 24.1 | 63.9 | 12.0 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 29.6 | 25.4 | +4.2 | 38.8 | 128(+) | 44.0 | 41.7 | 14.4 |
Capacity Utilization | 26.8 | 20.7 | +6.1 | 35.5 | 128(+) | 36.7 | 53.4 | 9.9 |
New Orders | 34.3 | 23.9 | +10.4 | 36.6 | 128(+) | 44.1 | 46.1 | 9.8 |
Growth Rate of Orders | 26.1 | 18.8 | +7.3 | 26.9 | 128(+) | 34.7 | 56.7 | 8.6 |
Unfilled Orders | 2.6 | –6.2 | +8.8 | 4.0 | 1(+) | 11.0 | 80.6 | 8.4 |
Shipments | 29.2 | 18.4 | +10.8 | 37.6 | 128(+) | 42.0 | 45.2 | 12.8 |
Delivery Time | 2.5 | –1.1 | +3.6 | –1.9 | 1(+) | 9.0 | 84.5 | 6.5 |
Finished Goods Inventories | 1.9 | –8.6 | +10.5 | –0.5 | 1(+) | 15.8 | 70.3 | 13.9 |
Prices Paid for Raw Materials | 18.8 | 20.0 | –1.2 | 34.0 | 127(+) | 30.7 | 57.4 | 11.9 |
Prices Received for Finished Goods | 7.8 | 11.5 | –3.7 | 19.7 | 45(+) | 18.6 | 70.6 | 10.8 |
Wages and Benefits | 39.0 | 35.6 | +3.4 | 38.3 | 185(+) | 39.1 | 60.8 | 0.1 |
Employment | 23.6 | 15.9 | +7.7 | 22.3 | 83(+) | 33.7 | 56.2 | 10.1 |
Hours Worked | 1.9 | 0.7 | +1.2 | 9.4 | 41(+) | 10.6 | 80.7 | 8.7 |
Capital Expenditures | 22.9 | 23.3 | –0.4 | 20.2 | 119(+) | 32.8 | 57.3 | 9.9 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 15.3 | 2.4 | +12.9 | 21.1 | 45(+) | 28.0 | 59.3 | 12.7 |
General Business Activity | 2.4 | –6.8 | +9.2 | 14.6 | 1(+) | 20.0 | 62.4 | 17.6 |
*Shown is the number of consecutive months of expansion or contraction in the underlying indicator. Expansion is indicated by a positive index reading and denoted by a (+) in the table. Contraction is indicated by a negative index reading and denoted by a (–) in the table.
**Shown is the number of consecutive months of improvement or worsening in the underlying indicator. Improvement is indicated by a positive index reading and denoted by a (+) in the table. Worsening is indicated by a negative index reading and denoted by a (–) in the table.
†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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