Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 6.0 | 9.3 | –3.3 | 10.8 | 29(+) | 27.0 | 52.0 | 21.0 |
Capacity Utilization | 9.1 | 13.4 | –4.3 | 8.7 | 2(+) | 27.0 | 55.1 | 17.9 |
New Orders | –8.8 | –6.4 | –2.4 | 6.6 | 5(–) | 24.4 | 42.4 | 33.2 |
Growth Rate of Orders | –13.2 | –1.7 | –11.5 | 0.6 | 6(–) | 17.0 | 52.8 | 30.2 |
Unfilled Orders | –0.4 | –0.1 | –0.3 | –1.4 | 3(–) | 17.6 | 64.4 | 18.0 |
Shipments | –1.6 | 7.1 | –8.7 | 9.5 | 1(–) | 28.9 | 40.7 | 30.5 |
Delivery Time | 1.5 | 0.9 | +0.6 | 1.4 | 2(+) | 20.4 | 60.7 | 18.9 |
Finished Goods Inventories | –12.6 | 3.3 | –15.9 | –3.2 | 1(–) | 15.8 | 55.8 | 28.4 |
Prices Paid for Raw Materials | 32.0 | 37.1 | –5.1 | 28.1 | 30(+) | 47.5 | 37.0 | 15.5 |
Prices Received for Finished Goods | 22.2 | 18.1 | +4.1 | 9.0 | 27(+) | 31.6 | 59.0 | 9.4 |
Wages and Benefits | 36.7 | 36.6 | +0.1 | 20.7 | 30(+) | 36.7 | 63.3 | 0.0 |
Employment | 17.1 | 15.0 | +2.1 | 7.8 | 28(+) | 26.4 | 64.3 | 9.3 |
Hours Worked | –0.1 | 8.0 | –8.1 | 3.8 | 1(–) | 17.3 | 65.3 | 17.4 |
Capital Expenditures | 7.1 | 13.6 | –6.5 | 7.0 | 27(+) | 19.6 | 67.9 | 12.5 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –9.1 | –10.7 | +1.6 | 6.3 | 8(–) | 16.8 | 57.3 | 25.9 |
General Business Activity | –19.4 | –17.2 | –2.2 | 2.6 | 6(–) | 16.1 | 48.4 | 35.5 |
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 38.3 | 27.2 | +11.1 | 16.5 | 18(+) | 44.7 | 48.9 | 6.4 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 3.1 | 28.3 | –25.2 | 38.0 | 30(+) | 26.8 | 49.5 | 23.7 |
Capacity Utilization | 3.4 | 19.3 | –15.9 | 34.9 | 30(+) | 26.4 | 50.6 | 23.0 |
New Orders | –4.5 | 22.1 | –26.6 | 35.4 | 1(–) | 22.4 | 50.7 | 26.9 |
Growth Rate of Orders | 1.5 | 16.2 | –14.7 | 26.3 | 4(+) | 25.3 | 50.9 | 23.8 |
Unfilled Orders | –6.2 | –6.2 | 0.0 | 3.5 | 5(–) | 11.2 | 71.4 | 17.4 |
Shipments | 1.0 | 16.3 | –15.3 | 36.3 | 30(+) | 24.1 | 52.7 | 23.1 |
Delivery Time | 2.3 | –1.3 | +3.6 | –1.2 | 1(+) | 18.4 | 65.5 | 16.1 |
Finished Goods Inventories | –2.3 | 5.0 | –7.3 | 0.4 | 1(–) | 15.7 | 66.3 | 18.0 |
Prices Paid for Raw Materials | 25.8 | 22.9 | +2.9 | 34.6 | 31(+) | 42.7 | 40.4 | 16.9 |
Prices Received for Finished Goods | 26.4 | 22.8 | +3.6 | 21.2 | 30(+) | 40.2 | 46.0 | 13.8 |
Wages and Benefits | 43.4 | 50.9 | –7.5 | 39.4 | 30(+) | 48.2 | 47.0 | 4.8 |
Employment | 11.7 | 28.2 | –16.5 | 23.4 | 29(+) | 28.8 | 54.1 | 17.1 |
Hours Worked | 3.0 | 5.4 | –2.4 | 9.4 | 2(+) | 11.9 | 79.2 | 8.9 |
Capital Expenditures | 9.8 | 15.4 | –5.6 | 20.0 | 29(+) | 28.1 | 53.6 | 18.3 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Oct Index | Sep Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | –14.1 | –6.9 | –7.2 | 19.7 | 6(–) | 20.2 | 45.5 | 34.3 |
General Business Activity | –21.2 | –22.4 | +1.2 | 13.9 | 6(–) | 17.6 | 43.7 | 38.8 |
*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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