Surveys

Texas Manufacturing Outlook Survey

June 28, 2021

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	29.4	15.7	+13.7	10.5	13(+)	42.2	45.0	12.8
Capacity Utilization	30.6	23.2	+7.4	8.3	13(+)	40.5	49.5	9.9
New Orders	26.7	20.8	+5.9	6.4	13(+)	43.3	40.2	16.6
Growth Rate of Orders	23.4	19.5	+3.9	0.3	12(+)	37.0	49.5	13.6
Unfilled Orders	21.3	19.8	+1.5	–2.2	12(+)	32.4	56.5	11.1
Shipments	31.8	18.3	+13.5	9.2	13(+)	44.5	42.9	12.7
Delivery Time	26.9	30.1	–3.2	0.3	12(+)	36.4	54.1	9.5
Finished Goods Inventories	–4.9	0.0	–4.9	–3.4	1(–)	16.7	61.8	21.6
Prices Paid for Raw Materials	80.8	79.9	+0.9	25.4	14(+)	81.5	17.8	0.7
Prices Received for Finished Goods	42.8	38.4	+4.4	6.7	11(+)	44.6	53.6	1.8
Wages and Benefits	48.1	39.0	+9.1	18.7	14(+)	49.0	50.1	0.9
Employment	22.9	22.7	+0.2	6.7	12(+)	31.8	59.3	8.9
Hours Worked	23.8	22.7	+1.1	2.9	12(+)	32.0	59.8	8.2
Capital Expenditures	16.9	23.2	–6.3	6.5	11(+)	27.5	61.9	10.6

General Business Conditions Current (versus previous month)
Indicator	Jun Index	May Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	27.5	22.0	+5.5	6.9	13(+)	39.3	48.9	11.8
General Business Activity	31.1	34.9	–3.8	2.8	11(+)	43.1	44.9	12.0

Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty†	17.6	14.7	+2.9	12.7	2(+)	29.4	58.8	11.8

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	56.6	47.6	+9.0	38.5	14(+)	63.4	29.8	6.8
Capacity Utilization	56.9	43.1	+13.8	35.3	14(+)	63.7	29.5	6.8
New Orders	51.1	43.8	+7.3	36.2	14(+)	59.2	32.7	8.1
Growth Rate of Orders	40.6	34.4	+6.2	26.9	14(+)	49.2	42.1	8.6
Unfilled Orders	12.7	6.8	+5.9	4.0	13(+)	25.4	61.9	12.7
Shipments	59.8	40.3	+19.5	37.0	14(+)	64.6	30.6	4.8
Delivery Time	0.9	7.3	–6.4	–1.4	5(+)	21.0	58.9	20.1
Finished Goods Inventories	24.5	17.7	+6.8	0.1	8(+)	29.6	65.3	5.1
Prices Paid for Raw Materials	53.6	62.1	–8.5	33.9	15(+)	62.9	27.8	9.3
Prices Received for Finished Goods	53.6	48.4	+5.2	19.8	14(+)	58.8	36.1	5.2
Wages and Benefits	59.2	56.4	+2.8	38.0	14(+)	60.4	38.4	1.2
Employment	48.2	47.6	+0.6	22.4	13(+)	53.9	40.4	5.7
Hours Worked	20.4	5.7	+14.7	9.4	14(+)	28.1	64.2	7.7
Capital Expenditures	31.4	29.9	+1.5	19.8	13(+)	40.3	50.8	8.9

General Business Conditions Future (six months ahead)
Indicator	Jun Index	May Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	38.4	29.1	+9.3	20.7	13(+)	44.4	49.6	6.0
General Business Activity	37.3	31.4	+5.9	14.6	13(+)	46.3	44.6	9.0

*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.