Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 10.8 | 13.2 | –2.4 | 10.9 | 23(+) | 29.9 | 51.0 | 19.1 |
Capacity Utilization | 14.3 | 15.1 | –0.8 | 8.7 | 23(+) | 33.4 | 47.5 | 19.1 |
New Orders | 12.1 | 10.5 | +1.6 | 7.0 | 23(+) | 29.6 | 52.9 | 17.5 |
Growth Rate of Orders | 13.0 | 13.7 | –0.7 | 0.9 | 22(+) | 25.0 | 63.0 | 12.0 |
Unfilled Orders | 10.5 | 12.4 | –1.9 | –1.4 | 22(+) | 25.6 | 59.3 | 15.1 |
Shipments | 11.8 | 7.0 | +4.8 | 9.7 | 23(+) | 32.3 | 47.3 | 20.5 |
Delivery Time | 21.2 | 23.2 | –2.0 | 1.3 | 22(+) | 30.8 | 59.6 | 9.6 |
Finished Goods Inventories | –3.3 | 2.3 | –5.6 | –3.4 | 1(–) | 16.1 | 64.5 | 19.4 |
Prices Paid for Raw Materials | 61.5 | 74.0 | –12.5 | 27.7 | 24(+) | 67.2 | 27.1 | 5.7 |
Prices Received for Finished Goods | 43.5 | 47.8 | –4.3 | 8.4 | 21(+) | 46.9 | 49.7 | 3.4 |
Wages and Benefits | 50.9 | 55.2 | –4.3 | 20.1 | 24(+) | 50.9 | 49.1 | 0.0 |
Employment | 24.6 | 25.5 | –0.9 | 7.6 | 22(+) | 34.3 | 56.0 | 9.7 |
Hours Worked | 11.3 | 15.4 | –4.1 | 3.7 | 22(+) | 22.1 | 67.1 | 10.8 |
Capital Expenditures | 19.0 | 19.5 | –0.5 | 6.9 | 21(+) | 27.7 | 63.6 | 8.7 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –5.5 | –0.7 | –4.8 | 6.8 | 2(–) | 15.8 | 62.9 | 21.3 |
General Business Activity | 1.1 | 8.7 | –7.6 | 3.1 | 21(+) | 19.5 | 62.1 | 18.4 |
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 29.8 | 20.5 | +9.3 | 14.7 | 12(+) | 39.4 | 51.1 | 9.6 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 34.7 | 40.1 | –5.4 | 38.7 | 24(+) | 44.5 | 45.8 | 9.8 |
Capacity Utilization | 33.0 | 35.6 | –2.6 | 35.5 | 24(+) | 40.5 | 52.0 | 7.5 |
New Orders | 16.2 | 39.6 | –23.4 | 36.2 | 24(+) | 30.3 | 55.6 | 14.1 |
Growth Rate of Orders | 12.1 | 30.1 | –18.0 | 26.9 | 24(+) | 28.4 | 55.3 | 16.3 |
Unfilled Orders | 4.3 | 4.2 | +0.1 | 3.8 | 2(+) | 18.1 | 68.1 | 13.8 |
Shipments | 28.2 | 38.2 | –10.0 | 37.1 | 24(+) | 40.5 | 47.2 | 12.3 |
Delivery Time | 1.5 | 8.5 | –7.0 | –1.1 | 8(+) | 21.1 | 59.2 | 19.6 |
Finished Goods Inventories | 9.1 | 7.5 | +1.6 | 0.5 | 18(+) | 20.5 | 68.2 | 11.4 |
Prices Paid for Raw Materials | 51.1 | 58.0 | –6.9 | 34.8 | 25(+) | 59.1 | 33.0 | 8.0 |
Prices Received for Finished Goods | 46.5 | 59.2 | –12.7 | 21.0 | 24(+) | 53.5 | 39.5 | 7.0 |
Wages and Benefits | 58.5 | 64.8 | –6.3 | 39.0 | 24(+) | 58.5 | 41.5 | 0.0 |
Employment | 38.7 | 38.0 | +0.7 | 23.3 | 23(+) | 43.7 | 51.3 | 5.0 |
Hours Worked | 13.8 | 16.1 | –2.3 | 9.5 | 24(+) | 19.1 | 75.6 | 5.3 |
Capital Expenditures | 21.8 | 35.8 | –14.0 | 20.1 | 23(+) | 33.0 | 55.8 | 11.2 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 7.6 | 10.4 | –2.8 | 20.5 | 23(+) | 25.2 | 57.2 | 17.6 |
General Business Activity | 1.8 | 8.2 | –6.4 | 14.7 | 23(+) | 21.5 | 58.8 | 19.7 |
*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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