Texas Manufacturing Outlook Survey
June 29, 2020
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 13.6 | –28.0 | +41.6 | 9.7 | 1(+) | 40.0 | 33.6 | 26.4 |
Capacity Utilization | 7.6 | –26.0 | +33.6 | 7.4 | 1(+) | 35.5 | 36.5 | 27.9 |
New Orders | 2.9 | –30.6 | +33.5 | 5.6 | 1(+) | 32.4 | 38.1 | 29.5 |
Growth Rate of Orders | –5.8 | –30.8 | +25.0 | –0.7 | 4(–) | 27.2 | 39.8 | 33.0 |
Unfilled Orders | –2.3 | –17.4 | +15.1 | –3.2 | 4(–) | 17.1 | 63.5 | 19.4 |
Shipments | 3.1 | –25.7 | +28.8 | 8.4 | 1(+) | 33.5 | 36.1 | 30.4 |
Delivery Time | –0.3 | –10.0 | +9.7 | –0.6 | 4(–) | 12.0 | 75.7 | 12.3 |
Finished Goods Inventories | –9.8 | –8.9 | –0.9 | –3.2 | 15(–) | 16.1 | 58.0 | 25.9 |
Prices Paid for Raw Materials | 12.3 | 2.5 | +9.8 | 24.0 | 2(+) | 23.1 | 66.1 | 10.8 |
Prices Received for Finished Goods | –4.7 | –19.4 | +14.7 | 5.9 | 6(–) | 9.8 | 75.7 | 14.5 |
Wages and Benefits | 6.8 | –0.2 | +7.0 | 18.4 | 1(+) | 18.3 | 70.2 | 11.5 |
Employment | –1.5 | –11.5 | +10.0 | 6.1 | 5(–) | 15.4 | 67.7 | 16.9 |
Hours Worked | –4.3 | –22.8 | +18.5 | 2.3 | 4(–) | 16.2 | 63.3 | 20.5 |
Capital Expenditures | –10.5 | –33.9 | +23.4 | 6.2 | 4(–) | 10.4 | 68.7 | 20.9 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 2.7 | –34.6 | +37.3 | 6.2 | 1(+) | 29.1 | 44.6 | 26.4 |
General Business Activity | –6.1 | –49.2 | +43.1 | 1.8 | 4(–) | 25.0 | 43.8 | 31.1 |
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 9.1 | 28.3 | –19.2 | 13.3 | 25(+) | 33.6 | 41.8 | 24.5 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 38.7 | 29.7 | +9.0 | 38.1 | 2(+) | 56.6 | 25.5 | 17.9 |
Capacity Utilization | 40.3 | 28.1 | +12.2 | 34.9 | 2(+) | 55.7 | 28.9 | 15.4 |
New Orders | 33.9 | 17.8 | +16.1 | 35.8 | 2(+) | 51.1 | 31.7 | 17.2 |
Growth Rate of Orders | 32.8 | 13.0 | +19.8 | 26.4 | 2(+) | 49.1 | 34.7 | 16.3 |
Unfilled Orders | 8.7 | –4.3 | +13.0 | 3.7 | 1(+) | 20.6 | 67.5 | 11.9 |
Shipments | 32.0 | 13.4 | +18.6 | 36.7 | 2(+) | 49.3 | 33.4 | 17.3 |
Delivery Time | 0.7 | –1.9 | +2.6 | –1.8 | 1(+) | 11.7 | 77.3 | 11.0 |
Finished Goods Inventories | 1.9 | –7.7 | +9.6 | –0.5 | 1(+) | 22.5 | 56.9 | 20.6 |
Prices Paid for Raw Materials | 19.4 | 21.9 | –2.5 | 33.2 | 3(+) | 25.2 | 68.9 | 5.8 |
Prices Received for Finished Goods | 7.7 | 4.8 | +2.9 | 19.0 | 2(+) | 18.4 | 70.9 | 10.7 |
Wages and Benefits | 21.6 | 12.7 | +8.9 | 37.7 | 2(+) | 27.8 | 66.0 | 6.2 |
Employment | 18.6 | –3.5 | +22.1 | 21.7 | 1(+) | 30.8 | 57.0 | 12.2 |
Hours Worked | 4.8 | 7.8 | –3.0 | 9.1 | 2(+) | 16.8 | 71.2 | 12.0 |
Capital Expenditures | 10.4 | –7.7 | +18.1 | 19.5 | 1(+) | 29.7 | 51.0 | 19.3 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 16.2 | –11.2 | +27.4 | 20.2 | 1(+) | 34.6 | 47.1 | 18.4 |
General Business Activity | 19.7 | –19.0 | +38.7 | 13.7 | 1(+) | 40.1 | 39.6 | 20.4 |
*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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