Texas Manufacturing Outlook Survey
December 28, 2020
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 | 25.5 | 7.2 | +18.3 | 10.0 | 7(+) | 40.3 | 44.8 | 14.8 |
Capacity Utilization | 17.7 | 6.9 | +10.8 | 7.6 | 7(+) | 35.0 | 47.7 | 17.3 |
New Orders | 17.8 | 7.2 | +10.6 | 5.8 | 7(+) | 37.6 | 42.6 | 19.8 |
Growth Rate of Orders | 16.5 | 9.7 | +6.8 | –0.3 | 6(+) | 31.8 | 52.9 | 15.3 |
Unfilled Orders | 8.7 | 8.4 | +0.3 | –2.9 | 6(+) | 21.9 | 64.9 | 13.2 |
Shipments | 21.9 | 13.7 | +8.2 | 8.7 | 7(+) | 37.1 | 47.7 | 15.2 |
Delivery Time | 10.2 | 12.2 | –2.0 | –0.4 | 6(+) | 21.2 | 67.8 | 11.0 |
Finished Goods Inventories | –8.1 | –14.7 | +6.6 | –3.4 | 21(–) | 13.5 | 64.9 | 21.6 |
Prices Paid for Raw Materials | 49.0 | 35.0 | +14.0 | 24.1 | 8(+) | 50.2 | 48.6 | 1.2 |
Prices Received for Finished Goods | 17.4 | 4.7 | +12.7 | 5.9 | 5(+) | 20.6 | 76.2 | 3.2 |
Wages and Benefits | 19.1 | 13.6 | +5.5 | 18.3 | 7(+) | 19.3 | 80.5 | 0.2 |
Employment | 19.6 | 11.7 | +7.9 | 6.2 | 6(+) | 29.5 | 60.6 | 9.9 |
Hours Worked | 9.3 | 9.7 | –0.4 | 2.4 | 6(+) | 21.8 | 65.7 | 12.5 |
Capital Expenditures | 8.5 | 9.0 | –0.5 | 6.1 | 4(+) | 19.1 | 70.3 | 10.6 |
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 | 16.8 | 11.0 | +5.8 | 6.4 | 7(+) | 31.0 | 54.8 | 14.2 |
General Business Activity | 9.7 | 12.0 | –2.3 | 2.1 | 5(+) | 27.6 | 54.5 | 17.9 |
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 13.4 | 7.2 | +6.2 | 13.0 | 31(+) | 26.8 | 59.8 | 13.4 |
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 | 47.3 | 40.8 | +6.5 | 38.2 | 8(+) | 56.8 | 33.7 | 9.5 |
Capacity Utilization | 42.9 | 36.2 | +6.7 | 35.1 | 8(+) | 52.4 | 38.1 | 9.5 |
New Orders | 38.8 | 43.2 | –4.4 | 36.0 | 8(+) | 51.5 | 35.8 | 12.7 |
Growth Rate of Orders | 33.5 | 31.3 | +2.2 | 26.6 | 8(+) | 44.9 | 43.7 | 11.4 |
Unfilled Orders | 9.7 | 12.0 | –2.3 | 3.9 | 7(+) | 19.7 | 70.3 | 10.0 |
Shipments | 40.3 | 36.7 | +3.6 | 36.7 | 8(+) | 52.5 | 35.3 | 12.2 |
Delivery Time | 2.5 | 7.2 | –4.7 | –1.6 | 7(+) | 17.6 | 67.3 | 15.1 |
Finished Goods Inventories | 19.8 | 1.9 | +17.9 | –0.3 | 2(+) | 28.3 | 63.2 | 8.5 |
Prices Paid for Raw Materials | 50.0 | 42.2 | +7.8 | 33.2 | 9(+) | 52.8 | 44.3 | 2.8 |
Prices Received for Finished Goods | 32.0 | 21.4 | +10.6 | 19.0 | 8(+) | 37.7 | 56.6 | 5.7 |
Wages and Benefits | 45.7 | 37.0 | +8.7 | 37.5 | 8(+) | 46.7 | 52.3 | 1.0 |
Employment | 32.5 | 27.5 | +5.0 | 21.8 | 7(+) | 40.6 | 51.3 | 8.1 |
Hours Worked | 14.6 | 14.6 | 0.0 | 9.2 | 8(+) | 26.4 | 61.8 | 11.8 |
Capital Expenditures | 27.3 | 16.2 | +11.1 | 19.5 | 7(+) | 35.3 | 56.7 | 8.0 |
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 | 24.1 | 22.5 | +1.6 | 20.4 | 7(+) | 40.1 | 44.0 | 16.0 |
General Business Activity | 17.6 | 25.8 | –8.2 | 14.0 | 7(+) | 31.7 | 54.2 | 14.1 |
*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.
Sign up for our email alert to be automatically notified as soon as the latest Texas Manufacturing Outlook Survey is released on the web.