Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Mar Index | Feb Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 48.0 | 19.9 | +28.1 | 10.2 | 10(+) | 60.9 | 26.2 | 12.9 |
Capacity Utilization | 46.1 | 16.5 | +29.6 | 7.9 | 10(+) | 57.7 | 30.7 | 11.6 |
New Orders | 30.5 | 13.0 | +17.5 | 6.1 | 10(+) | 46.3 | 38.0 | 15.8 |
Growth Rate of Orders | 22.7 | 11.6 | +11.1 | –0.1 | 9(+) | 35.2 | 52.3 | 12.5 |
Unfilled Orders | 24.5 | 12.4 | +12.1 | –2.6 | 9(+) | 39.5 | 45.6 | 15.0 |
Shipments | 33.1 | 16.1 | +17.0 | 9.0 | 10(+) | 47.6 | 38.0 | 14.5 |
Delivery Time | 31.2 | 9.5 | +21.7 | –0.1 | 9(+) | 38.7 | 53.8 | 7.5 |
Finished Goods Inventories | –2.7 | –12.8 | +10.1 | –3.4 | 24(–) | 18.2 | 60.9 | 20.9 |
Prices Paid for Raw Materials | 66.0 | 57.4 | +8.6 | 24.7 | 11(+) | 69.3 | 27.4 | 3.3 |
Prices Received for Finished Goods | 32.2 | 23.0 | +9.2 | 6.2 | 8(+) | 35.8 | 60.6 | 3.6 |
Wages and Benefits | 28.0 | 16.1 | +11.9 | 18.4 | 11(+) | 28.7 | 70.6 | 0.7 |
Employment | 18.8 | 12.7 | +6.1 | 6.4 | 9(+) | 28.8 | 61.2 | 10.0 |
Hours Worked | 23.4 | 11.3 | +12.1 | 2.6 | 9(+) | 33.1 | 57.2 | 9.7 |
Capital Expenditures | 24.3 | 13.7 | +10.6 | 6.3 | 8(+) | 30.5 | 63.3 | 6.2 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Mar Index | Feb Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 25.8 | 10.7 | +15.1 | 6.6 | 10(+) | 36.3 | 53.2 | 10.5 |
General Business Activity | 28.9 | 17.2 | +11.7 | 2.3 | 8(+) | 42.2 | 44.5 | 13.3 |
Indicator | Mar Index | Feb Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 5.5 | 8.5 | –3.0 | 12.8 | 34(+) | 23.1 | 59.3 | 17.6 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Mar Index | Feb Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 38.3 | 40.2 | –1.9 | 38.3 | 11(+) | 49.9 | 38.5 | 11.6 |
Capacity Utilization | 35.8 | 37.1 | –1.3 | 35.1 | 11(+) | 47.0 | 41.7 | 11.2 |
New Orders | 44.6 | 32.3 | +12.3 | 36.0 | 11(+) | 53.2 | 38.2 | 8.6 |
Growth Rate of Orders | 34.0 | 25.8 | +8.2 | 26.7 | 11(+) | 42.9 | 48.2 | 8.9 |
Unfilled Orders | 7.4 | 4.5 | +2.9 | 3.9 | 10(+) | 23.2 | 61.0 | 15.8 |
Shipments | 41.9 | 36.0 | +5.9 | 36.8 | 11(+) | 54.3 | 33.3 | 12.4 |
Delivery Time | 3.7 | 5.9 | –2.2 | –1.5 | 2(+) | 19.3 | 65.1 | 15.6 |
Finished Goods Inventories | 11.2 | 11.5 | –0.3 | –0.2 | 5(+) | 26.5 | 58.2 | 15.3 |
Prices Paid for Raw Materials | 55.0 | 52.9 | +2.1 | 33.5 | 12(+) | 63.0 | 29.0 | 8.0 |
Prices Received for Finished Goods | 43.9 | 44.9 | –1.0 | 19.4 | 11(+) | 49.0 | 45.9 | 5.1 |
Wages and Benefits | 42.4 | 52.1 | –9.7 | 37.7 | 11(+) | 44.9 | 52.6 | 2.5 |
Employment | 38.4 | 30.8 | +7.6 | 22.0 | 10(+) | 46.2 | 46.1 | 7.8 |
Hours Worked | 5.4 | 11.0 | –5.6 | 9.3 | 11(+) | 17.9 | 69.6 | 12.5 |
Capital Expenditures | 25.7 | 22.8 | +2.9 | 19.6 | 10(+) | 34.9 | 55.9 | 9.2 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Mar Index | Feb Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 26.2 | 32.3 | –6.1 | 20.5 | 10(+) | 35.8 | 54.6 | 9.6 |
General Business Activity | 33.7 | 33.9 | –0.2 | 14.3 | 10(+) | 41.3 | 51.1 | 7.6 |
*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.
Sign up for our email alert to be automatically notified as soon as the latest Texas Manufacturing Outlook Survey is released on the web.