Texas Manufacturing Outlook Survey
November 29, 2021
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 27.4 | 18.3 | +9.1 | 10.8 | 18(+) | 38.2 | 51.0 | 10.8 |
Capacity Utilization | 26.4 | 20.1 | +6.3 | 8.6 | 18(+) | 37.5 | 51.4 | 11.1 |
New Orders | 19.6 | 14.9 | +4.7 | 6.6 | 18(+) | 32.7 | 54.2 | 13.1 |
Growth Rate of Orders | 16.8 | 13.6 | +3.2 | 0.6 | 17(+) | 23.8 | 69.2 | 7.0 |
Unfilled Orders | 17.4 | 20.9 | –3.5 | –1.7 | 17(+) | 26.8 | 63.8 | 9.4 |
Shipments | 24.3 | 13.8 | +10.5 | 9.5 | 18(+) | 35.8 | 52.7 | 11.5 |
Delivery Time | 21.7 | 25.9 | –4.2 | 0.8 | 17(+) | 29.1 | 63.5 | 7.4 |
Finished Goods Inventories | 3.2 | –11.1 | +14.3 | –3.4 | 1(+) | 18.1 | 67.0 | 14.9 |
Prices Paid for Raw Materials | 82.1 | 76.3 | +5.8 | 26.7 | 19(+) | 83.6 | 14.9 | 1.5 |
Prices Received for Finished Goods | 42.2 | 49.8 | –7.6 | 7.6 | 16(+) | 45.3 | 51.6 | 3.1 |
Wages and Benefits | 47.6 | 44.1 | +3.5 | 19.3 | 19(+) | 47.7 | 52.2 | 0.1 |
Employment | 28.5 | 28.3 | +0.2 | 7.1 | 17(+) | 33.0 | 62.5 | 4.5 |
Hours Worked | 19.6 | 18.5 | +1.1 | 3.4 | 17(+) | 20.6 | 78.4 | 1.0 |
Capital Expenditures | 10.5 | 15.6 | –5.1 | 6.6 | 16(+) | 21.2 | 68.1 | 10.7 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 1.3 | 2.4 | –1.1 | 6.9 | 2(+) | 19.6 | 62.1 | 18.3 |
General Business Activity | 11.8 | 14.6 | –2.8 | 3.0 | 16(+) | 22.2 | 67.4 | 10.4 |
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 27.7 | 29.0 | –1.3 | 13.8 | 7(+) | 36.2 | 55.3 | 8.5 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 51.7 | 46.8 | +4.9 | 38.7 | 19(+) | 56.9 | 37.9 | 5.2 |
Capacity Utilization | 42.7 | 48.6 | –5.9 | 35.5 | 19(+) | 43.5 | 55.7 | 0.8 |
New Orders | 41.4 | 39.3 | +2.1 | 36.3 | 19(+) | 45.8 | 49.9 | 4.4 |
Growth Rate of Orders | 29.2 | 29.3 | –0.1 | 27.0 | 19(+) | 33.4 | 62.4 | 4.2 |
Unfilled Orders | –1.5 | –0.1 | –1.4 | 3.9 | 4(–) | 14.0 | 70.5 | 15.5 |
Shipments | 42.3 | 48.5 | –6.2 | 37.1 | 19(+) | 47.4 | 47.6 | 5.1 |
Delivery Time | 1.8 | 5.8 | –4.0 | –1.3 | 10(+) | 18.0 | 65.8 | 16.2 |
Finished Goods Inventories | 8.2 | 6.7 | +1.5 | 0.3 | 13(+) | 19.8 | 68.6 | 11.6 |
Prices Paid for Raw Materials | 56.4 | 48.9 | +7.5 | 34.3 | 20(+) | 62.1 | 32.2 | 5.7 |
Prices Received for Finished Goods | 49.5 | 40.6 | +8.9 | 20.4 | 19(+) | 55.2 | 39.1 | 5.7 |
Wages and Benefits | 62.8 | 60.3 | +2.5 | 38.4 | 19(+) | 63.0 | 36.8 | 0.2 |
Employment | 36.6 | 35.1 | +1.5 | 22.8 | 18(+) | 40.6 | 55.4 | 4.0 |
Hours Worked | 13.9 | 7.1 | +6.8 | 9.5 | 19(+) | 17.3 | 79.3 | 3.4 |
Capital Expenditures | 31.8 | 24.9 | +6.9 | 19.9 | 18(+) | 36.3 | 59.2 | 4.5 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 17.3 | 14.1 | +3.2 | 20.7 | 18(+) | 33.1 | 51.1 | 15.8 |
General Business Activity | 28.6 | 15.0 | +13.6 | 14.8 | 18(+) | 38.6 | 51.4 | 10.0 |
*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.
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