Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 2.3 | 18.8 | –16.5 | 10.9 | 25(+) | 25.8 | 50.7 | 23.5 |
Capacity Utilization | 3.3 | 19.8 | –16.5 | 8.8 | 25(+) | 21.8 | 59.7 | 18.5 |
New Orders | –7.3 | 3.2 | –10.5 | 6.9 | 1(–) | 23.1 | 46.5 | 30.4 |
Growth Rate of Orders | –16.2 | –5.3 | –10.9 | 0.8 | 2(–) | 14.0 | 55.8 | 30.2 |
Unfilled Orders | –8.8 | 4.1 | –12.9 | –1.4 | 1(–) | 14.8 | 61.6 | 23.6 |
Shipments | 1.2 | 13.1 | –11.9 | 9.7 | 25(+) | 23.0 | 55.2 | 21.8 |
Delivery Time | 19.9 | 4.3 | +15.6 | 1.4 | 24(+) | 26.6 | 66.7 | 6.7 |
Finished Goods Inventories | 11.2 | 9.2 | +2.0 | –3.3 | 2(+) | 25.8 | 59.6 | 14.6 |
Prices Paid for Raw Materials | 57.5 | 61.8 | –4.3 | 28.0 | 26(+) | 66.6 | 24.3 | 9.1 |
Prices Received for Finished Goods | 33.8 | 41.8 | –8.0 | 8.7 | 23(+) | 38.7 | 56.4 | 4.9 |
Wages and Benefits | 49.9 | 50.5 | –0.6 | 20.4 | 26(+) | 49.9 | 50.1 | 0.0 |
Employment | 15.2 | 20.9 | –5.7 | 7.7 | 24(+) | 23.9 | 67.4 | 8.7 |
Hours Worked | 11.8 | 7.4 | +4.4 | 3.7 | 24(+) | 20.9 | 70.0 | 9.1 |
Capital Expenditures | 5.1 | 9.2 | –4.1 | 6.9 | 23(+) | 22.6 | 59.9 | 17.5 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –20.2 | –10.0 | –10.2 | 6.6 | 4(–) | 11.6 | 56.6 | 31.8 |
General Business Activity | –17.7 | –7.3 | –10.4 | 3.0 | 2(–) | 15.4 | 51.5 | 33.1 |
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 43.7 | 26.5 | +17.2 | 15.5 | 14(+) | 49.4 | 44.8 | 5.7 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 4.0 | 19.9 | –15.9 | 38.4 | 26(+) | 33.5 | 37.1 | 29.5 |
Capacity Utilization | 4.6 | 22.7 | –18.1 | 35.3 | 26(+) | 32.3 | 40.0 | 27.7 |
New Orders | 0.8 | 16.6 | –15.8 | 35.9 | 26(+) | 31.4 | 38.0 | 30.6 |
Growth Rate of Orders | –6.3 | 13.3 | –19.6 | 26.7 | 1(–) | 23.9 | 45.9 | 30.2 |
Unfilled Orders | –21.4 | 1.6 | –23.0 | 3.7 | 1(–) | 5.4 | 67.8 | 26.8 |
Shipments | 2.5 | 20.3 | –17.8 | 36.8 | 26(+) | 32.8 | 36.8 | 30.3 |
Delivery Time | –17.7 | 1.8 | –19.5 | –1.2 | 1(–) | 11.3 | 59.7 | 29.0 |
Finished Goods Inventories | –8.5 | –1.2 | –7.3 | 0.5 | 2(–) | 15.9 | 59.8 | 24.4 |
Prices Paid for Raw Materials | 33.0 | 47.5 | –14.5 | 34.8 | 27(+) | 47.6 | 37.8 | 14.6 |
Prices Received for Finished Goods | 33.3 | 38.6 | –5.3 | 21.2 | 26(+) | 44.4 | 44.4 | 11.1 |
Wages and Benefits | 60.3 | 62.5 | –2.2 | 39.2 | 26(+) | 61.6 | 37.1 | 1.3 |
Employment | 15.2 | 32.3 | –17.1 | 23.4 | 25(+) | 30.1 | 55.0 | 14.9 |
Hours Worked | 2.0 | 9.0 | –7.0 | 9.5 | 26(+) | 15.3 | 71.4 | 13.3 |
Capital Expenditures | 9.7 | 21.1 | –11.4 | 20.1 | 25(+) | 26.8 | 56.1 | 17.1 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jun Index | May Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | –23.5 | –4.9 | –18.6 | 20.2 | 2(–) | 13.8 | 48.9 | 37.3 |
General Business Activity | –26.0 | –6.5 | –19.5 | 14.5 | 2(–) | 15.3 | 43.3 | 41.3 |
*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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