Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 31.0 | 29.4 | +1.6 | 10.6 | 14(+) | 43.9 | 43.1 | 12.9 |
Capacity Utilization | 29.9 | 30.6 | –0.7 | 8.4 | 14(+) | 39.2 | 51.5 | 9.3 |
New Orders | 26.8 | 26.7 | +0.1 | 6.5 | 14(+) | 39.9 | 47.0 | 13.1 |
Growth Rate of Orders | 25.8 | 23.4 | +2.4 | 0.4 | 13(+) | 37.1 | 51.6 | 11.3 |
Unfilled Orders | 20.2 | 21.3 | –1.1 | –2.1 | 13(+) | 31.2 | 57.8 | 11.0 |
Shipments | 31.6 | 31.8 | –0.2 | 9.3 | 14(+) | 41.4 | 48.7 | 9.8 |
Delivery Time | 19.7 | 26.9 | –7.2 | 0.4 | 13(+) | 31.1 | 57.5 | 11.4 |
Finished Goods Inventories | –8.7 | –4.9 | –3.8 | –3.5 | 2(–) | 17.5 | 56.3 | 26.2 |
Prices Paid for Raw Materials | 73.5 | 80.8 | –7.3 | 25.7 | 15(+) | 75.8 | 21.9 | 2.3 |
Prices Received for Finished Goods | 40.9 | 42.8 | –1.9 | 6.9 | 12(+) | 43.8 | 53.3 | 2.9 |
Wages and Benefits | 46.0 | 48.1 | –2.1 | 18.9 | 15(+) | 46.4 | 53.2 | 0.4 |
Employment | 23.7 | 22.9 | +0.8 | 6.8 | 13(+) | 31.3 | 61.1 | 7.6 |
Hours Worked | 24.2 | 23.8 | +0.4 | 3.0 | 13(+) | 32.2 | 59.8 | 8.0 |
Capital Expenditures | 15.4 | 16.9 | –1.5 | 6.5 | 12(+) | 22.0 | 71.4 | 6.6 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 22.2 | 27.5 | –5.3 | 7.0 | 14(+) | 34.6 | 53.0 | 12.4 |
General Business Activity | 27.3 | 31.1 | –3.8 | 2.9 | 12(+) | 36.4 | 54.5 | 9.1 |
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 14.6 | 17.6 | –3.0 | 12.7 | 3(+) | 23.3 | 68.0 | 8.7 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 48.4 | 56.6 | –8.2 | 38.5 | 15(+) | 55.1 | 38.2 | 6.7 |
Capacity Utilization | 39.4 | 56.9 | –17.5 | 35.4 | 15(+) | 48.2 | 43.0 | 8.8 |
New Orders | 43.3 | 51.1 | –7.8 | 36.2 | 15(+) | 51.8 | 39.7 | 8.5 |
Growth Rate of Orders | 31.5 | 40.6 | –9.1 | 26.9 | 15(+) | 42.2 | 47.0 | 10.7 |
Unfilled Orders | 4.2 | 12.7 | –8.5 | 4.0 | 14(+) | 19.4 | 65.4 | 15.2 |
Shipments | 47.4 | 59.8 | –12.4 | 37.0 | 15(+) | 54.1 | 39.2 | 6.7 |
Delivery Time | 5.1 | 0.9 | +4.2 | –1.4 | 6(+) | 19.8 | 65.6 | 14.7 |
Finished Goods Inventories | 12.7 | 24.5 | –11.8 | 0.2 | 9(+) | 25.3 | 62.1 | 12.6 |
Prices Paid for Raw Materials | 43.8 | 53.6 | –9.8 | 33.9 | 16(+) | 54.2 | 35.4 | 10.4 |
Prices Received for Finished Goods | 38.6 | 53.6 | –15.0 | 19.9 | 15(+) | 49.0 | 40.6 | 10.4 |
Wages and Benefits | 52.6 | 59.2 | –6.6 | 38.0 | 15(+) | 53.2 | 46.2 | 0.6 |
Employment | 43.5 | 48.2 | –4.7 | 22.5 | 14(+) | 46.7 | 50.1 | 3.2 |
Hours Worked | 14.1 | 20.4 | –6.3 | 9.4 | 15(+) | 21.9 | 70.3 | 7.8 |
Capital Expenditures | 26.0 | 31.4 | –5.4 | 19.8 | 14(+) | 34.8 | 56.4 | 8.8 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 35.5 | 38.4 | –2.9 | 20.8 | 14(+) | 42.4 | 50.7 | 6.9 |
General Business Activity | 37.1 | 37.3 | –0.2 | 14.7 | 14(+) | 41.6 | 53.9 | 4.5 |
*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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