Surveys

Texas Manufacturing Outlook Survey

August 29, 2022

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Aug Index	Jul Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	1.2	3.8	–2.6	10.9	27(+)	26.1	49.1	24.9
Capacity Utilization	–0.6	3.5	–4.1	8.7	1(–)	22.6	54.2	23.2
New Orders	–4.4	–9.2	+4.8	6.8	3(–)	27.4	40.8	31.8
Growth Rate of Orders	–14.7	–12.0	–2.7	0.7	4(–)	15.8	53.7	30.5
Unfilled Orders	–1.9	6.1	–8.0	–1.4	1(–)	16.9	64.3	18.8
Shipments	3.4	4.3	–0.9	9.6	27(+)	25.0	53.4	21.6
Delivery Time	–3.5	2.3	–5.8	1.4	1(–)	17.5	61.5	21.0
Finished Goods Inventories	1.2	4.7	–3.5	–3.2	4(+)	20.0	61.2	18.8
Prices Paid for Raw Materials	34.4	38.4	–4.0	28.1	28(+)	45.8	42.8	11.4
Prices Received for Finished Goods	26.8	29.3	–2.5	8.9	25(+)	34.3	58.2	7.5
Wages and Benefits	45.8	38.1	+7.7	20.6	28(+)	46.2	53.4	0.4
Employment	15.6	17.9	–2.3	7.8	26(+)	27.3	61.0	11.7
Hours Worked	14.4	9.5	+4.9	3.8	26(+)	24.7	65.0	10.3
Capital Expenditures	14.2	4.2	+10.0	6.9	25(+)	24.3	65.6	10.1

General Business Conditions Current (versus previous month)
Indicator	Aug Index	Jul Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–7.6	–10.8	+3.2	6.4	6(–)	13.2	66.0	20.8
General Business Activity	–12.9	–22.6	+9.7	2.8	4(–)	12.4	62.3	25.3

Indicator	Aug Index	Jul Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty†	24.4	33.7	–9.3	16.0	16(+)	30.2	64.0	5.8

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Aug Index	Jul Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	23.9	13.6	+10.3	38.2	28(+)	43.2	37.6	19.3
Capacity Utilization	19.0	13.8	+5.2	35.1	28(+)	39.2	40.6	20.2
New Orders	6.7	3.6	+3.1	35.7	28(+)	30.0	46.7	23.3
Growth Rate of Orders	6.4	2.6	+3.8	26.5	2(+)	27.6	51.2	21.2
Unfilled Orders	–8.6	–6.3	–2.3	3.6	3(–)	14.1	63.2	22.7
Shipments	15.4	2.6	+12.8	36.6	28(+)	37.0	41.3	21.6
Delivery Time	–10.0	2.4	–12.4	–1.2	1(–)	10.7	68.6	20.7
Finished Goods Inventories	–9.7	–5.1	–4.6	0.4	4(–)	11.0	68.3	20.7
Prices Paid for Raw Materials	14.7	20.5	–5.8	34.6	29(+)	35.4	43.9	20.7
Prices Received for Finished Goods	21.0	26.2	–5.2	21.2	28(+)	35.8	49.4	14.8
Wages and Benefits	54.7	48.3	+6.4	39.3	28(+)	58.2	38.3	3.5
Employment	24.5	29.7	–5.2	23.4	27(+)	33.8	56.9	9.3
Hours Worked	–0.5	6.4	–6.9	9.4	1(–)	16.9	65.7	17.4
Capital Expenditures	16.4	19.0	–2.6	20.0	27(+)	31.1	54.2	14.7

General Business Conditions Future (six months ahead)
Indicator	Aug Index	Jul Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	–3.0	–11.8	+8.8	20.0	4(–)	19.2	58.6	22.2
General Business Activity	–8.8	–17.7	+8.9	14.2	4(–)	17.1	57.0	25.9

*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.