Texas Manufacturing Outlook Survey
December 30, 2019
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 3.6 | –2.4 | +6.0 | 10.4 | 1(+) | 24.5 | 54.6 | 20.9 |
Capacity Utilization | 7.8 | –5.3 | +13.1 | 8.1 | 1(+) | 21.8 | 64.2 | 14.0 |
New Orders | 1.6 | –3.0 | +4.6 | 6.4 | 1(+) | 21.7 | 58.2 | 20.1 |
Growth Rate of Orders | –5.0 | –9.3 | +4.3 | 0.1 | 3(–) | 16.2 | 62.6 | 21.2 |
Unfilled Orders | –5.4 | –7.7 | +2.3 | –2.9 | 6(–) | 11.1 | 72.4 | 16.5 |
Shipments | 3.0 | –4.5 | +7.5 | 9.2 | 1(+) | 23.8 | 55.4 | 20.8 |
Delivery Time | –7.0 | –4.6 | –2.4 | –0.5 | 3(–) | 8.7 | 75.6 | 15.7 |
Finished Goods Inventories | –12.3 | –10.6 | –1.7 | –3.1 | 9(–) | 8.5 | 70.8 | 20.8 |
Prices Paid for Raw Materials | 14.5 | 17.8 | –3.3 | 24.7 | 45(+) | 21.5 | 71.5 | 7.0 |
Prices Received for Finished Goods | 0.7 | 1.9 | –1.2 | 6.4 | 4(+) | 10.2 | 80.3 | 9.5 |
Wages and Benefits | 14.6 | 21.1 | –6.5 | 18.8 | 125(+) | 15.9 | 82.8 | 1.3 |
Employment | 6.2 | 0.9 | +5.3 | 6.6 | 36(+) | 18.2 | 69.8 | 12.0 |
Hours Worked | 2.6 | –4.3 | +6.9 | 2.8 | 1(+) | 16.7 | 69.2 | 14.1 |
Capital Expenditures | 15.3 | 4.5 | +10.8 | 7.0 | 40(+) | 23.3 | 68.7 | 8.0 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 1.3 | –2.1 | +3.4 | 7.2 | 1(+) | 17.7 | 65.9 | 16.4 |
General Business Activity | –3.2 | –1.3 | –1.9 | 2.9 | 3(–) | 12.2 | 72.4 | 15.4 |
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 5.6 | 17.1 | –11.5 | 9.7 | 19(+) | 19.6 | 66.4 | 14.0 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 36.9 | 31.3 | +5.6 | 38.7 | 130(+) | 49.1 | 38.8 | 12.2 |
Capacity Utilization | 35.8 | 35.8 | 0.0 | 35.5 | 130(+) | 43.9 | 48.0 | 8.1 |
New Orders | 32.6 | 28.7 | +3.9 | 36.5 | 130(+) | 42.9 | 46.8 | 10.3 |
Growth Rate of Orders | 26.8 | 19.3 | +7.5 | 26.9 | 130(+) | 35.6 | 55.6 | 8.8 |
Unfilled Orders | 0.0 | 5.7 | –5.7 | 4.0 | 1() | 11.9 | 76.2 | 11.9 |
Shipments | 30.1 | 26.2 | +3.9 | 37.5 | 130(+) | 42.3 | 45.6 | 12.2 |
Delivery Time | 4.1 | 2.7 | +1.4 | –1.9 | 3(+) | 12.4 | 79.3 | 8.3 |
Finished Goods Inventories | 8.0 | –0.9 | +8.9 | –0.5 | 1(+) | 22.0 | 64.0 | 14.0 |
Prices Paid for Raw Materials | 14.1 | 25.9 | –11.8 | 33.9 | 129(+) | 24.2 | 65.7 | 10.1 |
Prices Received for Finished Goods | 10.2 | 7.5 | +2.7 | 19.6 | 47(+) | 20.4 | 69.4 | 10.2 |
Wages and Benefits | 28.4 | 36.5 | –8.1 | 38.3 | 187(+) | 34.3 | 59.8 | 5.9 |
Employment | 17.8 | 20.6 | –2.8 | 22.3 | 85(+) | 30.1 | 57.6 | 12.3 |
Hours Worked | 9.6 | 11.1 | –1.5 | 9.4 | 43(+) | 20.5 | 68.6 | 10.9 |
Capital Expenditures | 20.1 | 9.8 | +10.3 | 20.1 | 121(+) | 33.0 | 54.1 | 12.9 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 13.9 | 17.0 | –3.1 | 21.1 | 47(+) | 25.8 | 62.3 | 11.9 |
General Business Activity | 6.4 | 7.3 | –0.9 | 14.5 | 3(+) | 17.8 | 70.8 | 11.4 |
*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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