Surveys

Texas Manufacturing Outlook Survey

June 1, 2021

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	15.7	34.0	–18.3	10.4	12(+)	40.0	35.7	24.3
Capacity Utilization	23.2	34.6	–11.4	8.1	12(+)	43.4	36.4	20.2
New Orders	20.8	38.5	–17.7	6.3	12(+)	44.5	31.9	23.7
Growth Rate of Orders	19.5	32.3	–12.8	0.2	11(+)	40.6	38.4	21.1
Unfilled Orders	19.8	23.1	–3.3	–2.4	11(+)	31.7	56.4	11.9
Shipments	18.3	32.6	–14.3	9.1	12(+)	41.4	35.5	23.1
Delivery Time	30.1	24.0	+6.1	0.2	11(+)	37.9	54.3	7.8
Finished Goods Inventories	0.0	–5.7	+5.7	–3.4	1()	24.8	50.5	24.8
Prices Paid for Raw Materials	79.9	71.4	+8.5	25.2	13(+)	81.8	16.3	1.9
Prices Received for Finished Goods	38.4	39.1	–0.7	6.5	10(+)	43.0	52.4	4.6
Wages and Benefits	39.0	37.1	+1.9	18.6	13(+)	40.0	59.0	1.0
Employment	22.7	31.3	–8.6	6.6	11(+)	29.0	64.7	6.3
Hours Worked	22.7	23.7	–1.0	2.8	11(+)	32.9	56.9	10.2
Capital Expenditures	23.2	19.8	+3.4	6.4	10(+)	29.7	63.8	6.5

General Business Conditions Current (versus previous month)
Indicator	May Index	Apr Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	22.0	29.1	–7.1	6.8	12(+)	37.6	46.8	15.6
General Business Activity	34.9	37.3	–2.4	2.6	10(+)	47.8	39.3	12.9

Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty†	14.7	0.0	+14.7	12.6	1(+)	28.4	57.8	13.7

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	47.6	47.2	+0.4	38.4	13(+)	56.0	35.6	8.4
Capacity Utilization	43.1	45.0	–1.9	35.2	13(+)	51.1	40.9	8.0
New Orders	43.8	42.6	+1.2	36.1	13(+)	53.3	37.2	9.5
Growth Rate of Orders	34.4	43.2	–8.8	26.9	13(+)	43.8	46.7	9.4
Unfilled Orders	6.8	10.2	–3.4	4.0	12(+)	21.5	63.8	14.7
Shipments	40.3	44.4	–4.1	36.9	13(+)	49.7	40.9	9.4
Delivery Time	7.3	4.0	+3.3	–1.4	4(+)	20.8	65.7	13.5
Finished Goods Inventories	17.7	24.0	–6.3	0.0	7(+)	28.1	61.5	10.4
Prices Paid for Raw Materials	62.1	54.1	+8.0	33.8	14(+)	68.4	25.3	6.3
Prices Received for Finished Goods	48.4	40.2	+8.2	19.6	13(+)	52.6	43.2	4.2
Wages and Benefits	56.4	49.9	+6.5	37.9	13(+)	56.6	43.2	0.2
Employment	47.6	48.2	–0.6	22.2	12(+)	51.4	44.8	3.8
Hours Worked	5.7	15.9	–10.2	9.3	13(+)	15.9	73.9	10.2
Capital Expenditures	29.9	28.4	+1.5	19.7	12(+)	33.5	62.9	3.6

General Business Conditions Future (six months ahead)
Indicator	May Index	Apr Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	29.1	36.6	–7.5	20.7	12(+)	39.7	49.7	10.6
General Business Activity	31.4	36.6	–5.2	14.5	12(+)	44.0	43.3	12.6

*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.