Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 34.0 | 48.0 | –14.0 | 10.3 | 11(+) | 49.1 | 35.8 | 15.1 |
Capacity Utilization | 34.6 | 46.1 | –11.5 | 8.1 | 11(+) | 47.9 | 38.8 | 13.3 |
New Orders | 38.5 | 30.5 | +8.0 | 6.2 | 11(+) | 49.9 | 38.8 | 11.4 |
Growth Rate of Orders | 32.3 | 22.7 | +9.6 | 0.1 | 10(+) | 41.8 | 48.8 | 9.5 |
Unfilled Orders | 23.1 | 24.5 | –1.4 | –2.5 | 10(+) | 31.7 | 59.7 | 8.6 |
Shipments | 32.6 | 33.1 | –0.5 | 9.1 | 11(+) | 42.9 | 46.8 | 10.3 |
Delivery Time | 24.0 | 31.2 | –7.2 | 0.0 | 10(+) | 37.4 | 49.2 | 13.4 |
Finished Goods Inventories | –5.7 | –2.7 | –3.0 | –3.4 | 25(–) | 16.0 | 62.3 | 21.7 |
Prices Paid for Raw Materials | 71.4 | 66.0 | +5.4 | 24.9 | 12(+) | 74.1 | 23.2 | 2.7 |
Prices Received for Finished Goods | 39.1 | 32.2 | +6.9 | 6.4 | 9(+) | 41.3 | 56.5 | 2.2 |
Wages and Benefits | 37.1 | 28.0 | +9.1 | 18.5 | 12(+) | 37.8 | 61.5 | 0.7 |
Employment | 31.3 | 18.8 | +12.5 | 6.5 | 10(+) | 34.6 | 62.1 | 3.3 |
Hours Worked | 23.7 | 23.4 | +0.3 | 2.7 | 10(+) | 29.1 | 65.5 | 5.4 |
Capital Expenditures | 19.8 | 24.3 | –4.5 | 6.4 | 9(+) | 24.8 | 70.2 | 5.0 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 29.1 | 25.8 | +3.3 | 6.7 | 11(+) | 39.2 | 50.7 | 10.1 |
General Business Activity | 37.3 | 28.9 | +8.4 | 2.5 | 9(+) | 45.9 | 45.5 | 8.6 |
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 0.0 | 5.5 | –5.5 | 12.5 | 1() | 18.1 | 63.8 | 18.1 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 47.2 | 38.3 | +8.9 | 38.3 | 12(+) | 52.2 | 42.8 | 5.0 |
Capacity Utilization | 45.0 | 35.8 | +9.2 | 35.2 | 12(+) | 49.6 | 45.7 | 4.6 |
New Orders | 42.6 | 44.6 | –2.0 | 36.1 | 12(+) | 47.1 | 48.4 | 4.5 |
Growth Rate of Orders | 43.2 | 34.0 | +9.2 | 26.8 | 12(+) | 47.1 | 48.9 | 3.9 |
Unfilled Orders | 10.2 | 7.4 | +2.8 | 4.0 | 11(+) | 22.0 | 66.1 | 11.8 |
Shipments | 44.4 | 41.9 | +2.5 | 36.9 | 12(+) | 49.9 | 44.6 | 5.5 |
Delivery Time | 4.0 | 3.7 | +0.3 | –1.5 | 3(+) | 17.7 | 68.6 | 13.7 |
Finished Goods Inventories | 24.0 | 11.2 | +12.8 | –0.1 | 6(+) | 27.1 | 69.8 | 3.1 |
Prices Paid for Raw Materials | 54.1 | 55.0 | –0.9 | 33.6 | 13(+) | 60.4 | 33.3 | 6.3 |
Prices Received for Finished Goods | 40.2 | 43.9 | –3.7 | 19.5 | 12(+) | 45.4 | 49.5 | 5.2 |
Wages and Benefits | 49.9 | 42.4 | +7.5 | 37.8 | 12(+) | 49.9 | 50.1 | 0.0 |
Employment | 48.2 | 38.4 | +9.8 | 22.1 | 11(+) | 51.0 | 46.2 | 2.8 |
Hours Worked | 15.9 | 5.4 | +10.5 | 9.3 | 12(+) | 17.3 | 81.3 | 1.4 |
Capital Expenditures | 28.4 | 25.7 | +2.7 | 19.7 | 11(+) | 32.1 | 64.2 | 3.7 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 36.6 | 26.2 | +10.4 | 20.6 | 11(+) | 42.5 | 51.6 | 5.9 |
General Business Activity | 36.6 | 33.7 | +2.9 | 14.4 | 11(+) | 42.5 | 51.6 | 5.9 |
*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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