Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Sep Index | Aug Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 9.3 | 1.2 | +8.1 | 10.8 | 28(+) | 32.6 | 44.2 | 23.3 |
Capacity Utilization | 13.4 | –0.6 | +14.0 | 8.7 | 1(+) | 32.0 | 49.5 | 18.6 |
New Orders | –6.4 | –4.4 | –2.0 | 6.7 | 4(–) | 25.3 | 43.0 | 31.7 |
Growth Rate of Orders | –1.7 | –14.7 | +13.0 | 0.6 | 5(–) | 22.2 | 53.9 | 23.9 |
Unfilled Orders | –0.1 | –1.9 | +1.8 | –1.4 | 2(–) | 19.5 | 60.9 | 19.6 |
Shipments | 7.1 | 3.4 | +3.7 | 9.6 | 28(+) | 32.3 | 42.5 | 25.2 |
Delivery Time | 0.9 | –3.5 | +4.4 | 1.4 | 1(+) | 18.9 | 63.1 | 18.0 |
Finished Goods Inventories | 3.3 | 1.2 | +2.1 | –3.2 | 5(+) | 20.2 | 62.9 | 16.9 |
Prices Paid for Raw Materials | 37.1 | 34.4 | +2.7 | 28.1 | 29(+) | 49.5 | 38.1 | 12.4 |
Prices Received for Finished Goods | 18.1 | 26.8 | –8.7 | 8.9 | 26(+) | 24.4 | 69.3 | 6.3 |
Wages and Benefits | 36.6 | 45.8 | –9.2 | 20.6 | 29(+) | 37.8 | 61.0 | 1.2 |
Employment | 15.0 | 15.6 | –0.6 | 7.8 | 27(+) | 24.4 | 66.2 | 9.4 |
Hours Worked | 8.0 | 14.4 | –6.4 | 3.8 | 27(+) | 23.3 | 61.4 | 15.3 |
Capital Expenditures | 13.6 | 14.2 | –0.6 | 7.0 | 26(+) | 20.6 | 72.4 | 7.0 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Sep Index | Aug Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –10.7 | –7.6 | –3.1 | 6.4 | 7(–) | 14.2 | 60.8 | 24.9 |
General Business Activity | –17.2 | –12.9 | –4.3 | 2.7 | 5(–) | 12.8 | 57.2 | 30.0 |
Indicator | Sep Index | Aug Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 27.2 | 24.4 | +2.8 | 16.2 | 17(+) | 38.6 | 50.0 | 11.4 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Sep Index | Aug Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 28.3 | 23.9 | +4.4 | 38.2 | 29(+) | 41.9 | 44.5 | 13.6 |
Capacity Utilization | 19.3 | 19.0 | +0.3 | 35.0 | 29(+) | 35.7 | 48.0 | 16.4 |
New Orders | 22.1 | 6.7 | +15.4 | 35.6 | 29(+) | 37.3 | 47.5 | 15.2 |
Growth Rate of Orders | 16.2 | 6.4 | +9.8 | 26.5 | 3(+) | 30.2 | 55.8 | 14.0 |
Unfilled Orders | –6.2 | –8.6 | +2.4 | 3.5 | 4(–) | 13.7 | 66.4 | 19.9 |
Shipments | 16.3 | 15.4 | +0.9 | 36.5 | 29(+) | 34.6 | 47.0 | 18.3 |
Delivery Time | –1.3 | –10.0 | +8.7 | –1.2 | 2(–) | 14.8 | 69.1 | 16.1 |
Finished Goods Inventories | 5.0 | –9.7 | +14.7 | 0.4 | 1(+) | 18.8 | 67.5 | 13.8 |
Prices Paid for Raw Materials | 22.9 | 14.7 | +8.2 | 34.6 | 30(+) | 41.0 | 41.0 | 18.1 |
Prices Received for Finished Goods | 22.8 | 21.0 | +1.8 | 21.2 | 29(+) | 37.3 | 48.2 | 14.5 |
Wages and Benefits | 50.9 | 54.7 | –3.8 | 39.4 | 29(+) | 50.9 | 49.1 | 0.0 |
Employment | 28.2 | 24.5 | +3.7 | 23.4 | 28(+) | 40.2 | 47.8 | 12.0 |
Hours Worked | 5.4 | –0.5 | +5.9 | 9.4 | 1(+) | 18.1 | 69.2 | 12.7 |
Capital Expenditures | 15.4 | 16.4 | –1.0 | 20.0 | 28(+) | 31.5 | 52.4 | 16.1 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Sep Index | Aug Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | –6.9 | –3.0 | –3.9 | 19.9 | 5(–) | 18.7 | 55.7 | 25.6 |
General Business Activity | –22.4 | –8.8 | –13.6 | 14.0 | 5(–) | 13.4 | 50.8 | 35.8 |
*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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