Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 3.8 | 2.3 | +1.5 | 10.9 | 26(+) | 23.7 | 56.4 | 19.9 |
Capacity Utilization | 3.5 | 3.3 | +0.2 | 8.7 | 26(+) | 20.9 | 61.7 | 17.4 |
New Orders | –9.2 | –7.3 | –1.9 | 6.8 | 2(–) | 18.7 | 53.4 | 27.9 |
Growth Rate of Orders | –12.0 | –16.2 | +4.2 | 0.7 | 3(–) | 16.4 | 55.2 | 28.4 |
Unfilled Orders | 6.1 | –8.8 | +14.9 | –1.4 | 1(+) | 20.2 | 65.7 | 14.1 |
Shipments | 4.3 | 1.2 | +3.1 | 9.6 | 26(+) | 25.5 | 53.3 | 21.2 |
Delivery Time | 2.3 | 19.9 | –17.6 | 1.4 | 25(+) | 19.1 | 64.1 | 16.8 |
Finished Goods Inventories | 4.7 | 11.2 | –6.5 | –3.2 | 3(+) | 20.0 | 64.7 | 15.3 |
Prices Paid for Raw Materials | 38.4 | 57.5 | –19.1 | 28.0 | 27(+) | 53.1 | 32.2 | 14.7 |
Prices Received for Finished Goods | 29.3 | 33.8 | –4.5 | 8.8 | 24(+) | 34.4 | 60.5 | 5.1 |
Wages and Benefits | 38.1 | 49.9 | –11.8 | 20.4 | 27(+) | 38.5 | 61.1 | 0.4 |
Employment | 17.9 | 15.2 | +2.7 | 7.7 | 25(+) | 27.9 | 62.1 | 10.0 |
Hours Worked | 9.5 | 11.8 | –2.3 | 3.8 | 25(+) | 18.0 | 73.5 | 8.5 |
Capital Expenditures | 4.2 | 5.1 | –0.9 | 6.9 | 24(+) | 20.0 | 64.2 | 15.8 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –10.8 | –20.2 | +9.4 | 6.5 | 5(–) | 11.0 | 67.2 | 21.8 |
General Business Activity | –22.6 | –17.7 | –4.9 | 2.9 | 3(–) | 9.0 | 59.4 | 31.6 |
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 33.7 | 43.7 | –10.0 | 15.8 | 15(+) | 39.5 | 54.7 | 5.8 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 13.6 | 4.0 | +9.6 | 38.3 | 27(+) | 32.9 | 47.9 | 19.3 |
Capacity Utilization | 13.8 | 4.6 | +9.2 | 35.2 | 27(+) | 32.5 | 48.9 | 18.7 |
New Orders | 3.6 | 0.8 | +2.8 | 35.8 | 27(+) | 26.0 | 51.6 | 22.4 |
Growth Rate of Orders | 2.6 | –6.3 | +8.9 | 26.6 | 1(+) | 22.7 | 57.2 | 20.1 |
Unfilled Orders | –6.3 | –21.4 | +15.1 | 3.6 | 2(–) | 11.4 | 70.9 | 17.7 |
Shipments | 2.6 | 2.5 | +0.1 | 36.7 | 27(+) | 27.6 | 47.3 | 25.0 |
Delivery Time | 2.4 | –17.7 | +20.1 | –1.2 | 1(+) | 18.1 | 66.2 | 15.7 |
Finished Goods Inventories | –5.1 | –8.5 | +3.4 | 0.5 | 3(–) | 12.8 | 69.2 | 17.9 |
Prices Paid for Raw Materials | 20.5 | 33.0 | –12.5 | 34.7 | 28(+) | 39.7 | 41.0 | 19.2 |
Prices Received for Finished Goods | 26.2 | 33.3 | –7.1 | 21.2 | 27(+) | 40.0 | 46.3 | 13.8 |
Wages and Benefits | 48.3 | 60.3 | –12.0 | 39.3 | 27(+) | 51.5 | 45.3 | 3.2 |
Employment | 29.7 | 15.2 | +14.5 | 23.4 | 26(+) | 35.5 | 58.7 | 5.8 |
Hours Worked | 6.4 | 2.0 | +4.4 | 9.4 | 27(+) | 16.2 | 74.0 | 9.8 |
Capital Expenditures | 19.0 | 9.7 | +9.3 | 20.1 | 26(+) | 34.0 | 51.0 | 15.0 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jul Index | Jun Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | –11.8 | –23.5 | +11.7 | 20.1 | 3(–) | 17.0 | 54.2 | 28.8 |
General Business Activity | –17.7 | –26.0 | +8.3 | 14.3 | 3(–) | 12.3 | 57.7 | 30.0 |
*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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