Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 26.7 | 27.4 | –0.7 | 10.9 | 19(+) | 35.5 | 55.7 | 8.8 |
Capacity Utilization | 27.8 | 26.4 | +1.4 | 8.7 | 19(+) | 33.9 | 60.0 | 6.1 |
New Orders | 18.1 | 19.6 | –1.5 | 6.7 | 19(+) | 33.3 | 51.5 | 15.2 |
Growth Rate of Orders | 13.4 | 16.8 | –3.4 | 0.7 | 18(+) | 23.0 | 67.4 | 9.6 |
Unfilled Orders | 11.9 | 17.4 | –5.5 | –1.7 | 18(+) | 23.3 | 65.3 | 11.4 |
Shipments | 19.1 | 24.3 | –5.2 | 9.5 | 19(+) | 31.2 | 56.7 | 12.1 |
Delivery Time | 25.8 | 21.7 | +4.1 | 0.9 | 18(+) | 33.3 | 59.2 | 7.5 |
Finished Goods Inventories | –3.3 | 3.2 | –6.5 | –3.4 | 1(–) | 16.5 | 63.7 | 19.8 |
Prices Paid for Raw Materials | 66.2 | 82.1 | –15.9 | 26.9 | 20(+) | 72.8 | 20.6 | 6.6 |
Prices Received for Finished Goods | 42.3 | 42.2 | +0.1 | 7.7 | 17(+) | 46.7 | 48.9 | 4.4 |
Wages and Benefits | 45.5 | 47.6 | –2.1 | 19.5 | 20(+) | 45.6 | 54.3 | 0.1 |
Employment | 30.9 | 28.5 | +2.4 | 7.3 | 18(+) | 34.5 | 61.9 | 3.6 |
Hours Worked | 19.7 | 19.6 | +0.1 | 3.4 | 18(+) | 27.5 | 64.7 | 7.8 |
Capital Expenditures | 19.2 | 10.5 | +8.7 | 6.7 | 17(+) | 23.1 | 73.0 | 3.9 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 8.6 | 1.3 | +7.3 | 6.9 | 3(+) | 23.4 | 61.8 | 14.8 |
General Business Activity | 8.1 | 11.8 | –3.7 | 3.1 | 17(+) | 23.2 | 61.7 | 15.1 |
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 19.2 | 27.7 | –8.5 | 13.9 | 8(+) | 26.6 | 66.0 | 7.4 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 40.6 | 51.7 | –11.1 | 38.7 | 20(+) | 51.2 | 38.2 | 10.6 |
Capacity Utilization | 39.3 | 42.7 | –3.4 | 35.5 | 20(+) | 48.2 | 42.8 | 8.9 |
New Orders | 38.6 | 41.4 | –2.8 | 36.3 | 20(+) | 51.8 | 35.0 | 13.2 |
Growth Rate of Orders | 32.0 | 29.2 | +2.8 | 27.0 | 20(+) | 43.5 | 45.1 | 11.5 |
Unfilled Orders | 0.0 | –1.5 | +1.5 | 3.9 | 1() | 17.4 | 65.2 | 17.4 |
Shipments | 29.8 | 42.3 | –12.5 | 37.1 | 20(+) | 44.0 | 41.8 | 14.2 |
Delivery Time | 8.8 | 1.8 | +7.0 | –1.2 | 11(+) | 21.5 | 65.8 | 12.7 |
Finished Goods Inventories | 11.6 | 8.2 | +3.4 | 0.4 | 14(+) | 25.6 | 60.5 | 14.0 |
Prices Paid for Raw Materials | 45.5 | 56.4 | –10.9 | 34.4 | 21(+) | 58.0 | 29.5 | 12.5 |
Prices Received for Finished Goods | 44.9 | 49.5 | –4.6 | 20.5 | 20(+) | 55.2 | 34.5 | 10.3 |
Wages and Benefits | 61.9 | 62.8 | –0.9 | 38.5 | 20(+) | 63.1 | 35.7 | 1.2 |
Employment | 44.3 | 36.6 | +7.7 | 22.9 | 19(+) | 50.4 | 43.5 | 6.1 |
Hours Worked | 6.9 | 13.9 | –7.0 | 9.5 | 20(+) | 19.7 | 67.5 | 12.8 |
Capital Expenditures | 20.6 | 31.8 | –11.2 | 19.9 | 19(+) | 31.9 | 56.8 | 11.3 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 10.3 | 17.3 | –7.0 | 20.7 | 19(+) | 27.2 | 55.9 | 16.9 |
General Business Activity | 14.0 | 28.6 | –14.6 | 14.8 | 19(+) | 27.7 | 58.6 | 13.7 |
*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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