Texas Manufacturing Outlook Survey
July 27, 2020
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 16.1 | 13.6 | +2.5 | 9.7 | 2(+) | 37.4 | 41.2 | 21.3 |
Capacity Utilization | 14.0 | 7.6 | +6.4 | 7.4 | 2(+) | 30.9 | 52.2 | 16.9 |
New Orders | 6.9 | 2.9 | +4.0 | 5.6 | 2(+) | 30.6 | 45.7 | 23.7 |
Growth Rate of Orders | 1.3 | –5.8 | +7.1 | –0.7 | 1(+) | 24.8 | 51.7 | 23.5 |
Unfilled Orders | 7.9 | –2.3 | +10.2 | –3.1 | 1(+) | 20.7 | 66.5 | 12.8 |
Shipments | 17.3 | 3.1 | +14.2 | 8.4 | 2(+) | 35.7 | 45.9 | 18.4 |
Delivery Time | 3.2 | –0.3 | +3.5 | –0.6 | 1(+) | 15.0 | 73.2 | 11.8 |
Finished Goods Inventories | –9.9 | –9.8 | –0.1 | –3.2 | 16(–) | 13.5 | 63.1 | 23.4 |
Prices Paid for Raw Materials | 9.7 | 12.3 | –2.6 | 23.9 | 3(+) | 20.6 | 68.5 | 10.9 |
Prices Received for Finished Goods | –1.5 | –4.7 | +3.2 | 5.9 | 7(–) | 9.3 | 79.9 | 10.8 |
Wages and Benefits | 9.0 | 6.8 | +2.2 | 18.4 | 2(+) | 15.1 | 78.8 | 6.1 |
Employment | 3.1 | –1.5 | +4.6 | 6.0 | 1(+) | 17.9 | 67.3 | 14.8 |
Hours Worked | 5.8 | –4.3 | +10.1 | 2.3 | 1(+) | 22.3 | 61.2 | 16.5 |
Capital Expenditures | –3.0 | –10.5 | +7.5 | 6.2 | 5(–) | 14.5 | 68.0 | 17.5 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 5.9 | 2.7 | +3.2 | 6.2 | 2(+) | 27.2 | 51.5 | 21.3 |
General Business Activity | –3.0 | –6.1 | +3.1 | 1.8 | 5(–) | 26.0 | 44.9 | 29.0 |
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 20.9 | 9.1 | +11.8 | 13.6 | 26(+) | 34.5 | 51.8 | 13.6 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 37.2 | 38.7 | –1.5 | 38.0 | 3(+) | 51.3 | 34.6 | 14.1 |
Capacity Utilization | 30.7 | 40.3 | –9.6 | 34.9 | 3(+) | 43.3 | 44.0 | 12.6 |
New Orders | 38.6 | 33.9 | +4.7 | 35.8 | 3(+) | 51.4 | 35.8 | 12.8 |
Growth Rate of Orders | 30.4 | 32.8 | –2.4 | 26.4 | 3(+) | 43.0 | 44.5 | 12.6 |
Unfilled Orders | 2.7 | 8.7 | –6.0 | 3.7 | 2(+) | 12.5 | 77.7 | 9.8 |
Shipments | 33.2 | 32.0 | +1.2 | 36.7 | 3(+) | 45.6 | 42.1 | 12.4 |
Delivery Time | 4.8 | 0.7 | +4.1 | –1.8 | 2(+) | 9.2 | 86.4 | 4.4 |
Finished Goods Inventories | 1.0 | 1.9 | –0.9 | –0.5 | 2(+) | 15.7 | 69.6 | 14.7 |
Prices Paid for Raw Materials | 22.3 | 19.4 | +2.9 | 33.2 | 4(+) | 26.2 | 69.9 | 3.9 |
Prices Received for Finished Goods | 10.9 | 7.7 | +3.2 | 19.0 | 3(+) | 21.8 | 67.3 | 10.9 |
Wages and Benefits | 22.5 | 21.6 | +0.9 | 37.6 | 3(+) | 26.9 | 68.7 | 4.4 |
Employment | 11.1 | 18.6 | –7.5 | 21.7 | 2(+) | 26.4 | 58.3 | 15.3 |
Hours Worked | 9.9 | 4.8 | +5.1 | 9.1 | 3(+) | 20.5 | 68.9 | 10.6 |
Capital Expenditures | 11.6 | 10.4 | +1.2 | 19.5 | 2(+) | 25.6 | 60.4 | 14.0 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 18.7 | 16.2 | +2.5 | 20.2 | 2(+) | 34.4 | 49.9 | 15.7 |
General Business Activity | 10.6 | 19.7 | –9.1 | 13.7 | 2(+) | 28.2 | 54.2 | 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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