Surveys

Texas Manufacturing Outlook Survey

April 25, 2022

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.