Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 0.8 | 6.0 | –5.2 | 10.8 | 30(+) | 20.7 | 59.4 | 19.9 |
Capacity Utilization | –3.4 | 9.1 | –12.5 | 8.7 | 1(–) | 17.8 | 61.0 | 21.2 |
New Orders | –20.9 | –8.8 | –12.1 | 6.5 | 6(–) | 16.1 | 46.8 | 37.0 |
Growth Rate of Orders | –19.9 | –13.2 | –6.7 | 0.5 | 7(–) | 15.7 | 48.7 | 35.6 |
Unfilled Orders | –4.6 | –0.4 | –4.2 | –1.4 | 4(–) | 14.5 | 66.4 | 19.1 |
Shipments | –7.5 | –1.6 | –5.9 | 9.5 | 2(–) | 20.2 | 52.1 | 27.7 |
Delivery Time | –2.8 | 1.5 | –4.3 | 1.4 | 1(–) | 15.4 | 66.4 | 18.2 |
Finished Goods Inventories | 2.2 | –12.6 | +14.8 | –3.2 | 1(+) | 21.3 | 59.6 | 19.1 |
Prices Paid for Raw Materials | 22.6 | 32.0 | –9.4 | 28.1 | 31(+) | 39.9 | 42.9 | 17.3 |
Prices Received for Finished Goods | 13.9 | 22.2 | –8.3 | 9.0 | 28(+) | 25.0 | 63.9 | 11.1 |
Wages and Benefits | 36.5 | 36.7 | –0.2 | 20.8 | 31(+) | 37.5 | 61.5 | 1.0 |
Employment | 5.9 | 17.1 | –11.2 | 7.8 | 29(+) | 21.5 | 62.9 | 15.6 |
Hours Worked | –1.0 | –0.1 | –0.9 | 3.8 | 2(–) | 15.1 | 68.8 | 16.1 |
Capital Expenditures | 9.3 | 7.1 | +2.2 | 7.0 | 28(+) | 20.1 | 69.1 | 10.8 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –15.2 | –9.1 | –6.1 | 6.2 | 9(–) | 11.0 | 62.8 | 26.2 |
General Business Activity | –14.4 | –19.4 | +5.0 | 2.5 | 7(–) | 17.3 | 51.0 | 31.7 |
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 20.4 | 38.3 | –17.9 | 16.6 | 19(+) | 31.2 | 58.1 | 10.8 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 8.9 | 3.1 | +5.8 | 37.9 | 31(+) | 23.3 | 62.3 | 14.4 |
Capacity Utilization | 14.9 | 3.4 | +11.5 | 34.8 | 31(+) | 25.1 | 64.7 | 10.2 |
New Orders | 4.5 | –4.5 | +9.0 | 35.3 | 1(+) | 22.0 | 60.5 | 17.5 |
Growth Rate of Orders | 1.1 | 1.5 | –0.4 | 26.2 | 5(+) | 21.3 | 58.5 | 20.2 |
Unfilled Orders | –10.9 | –6.2 | –4.7 | 3.4 | 6(–) | 6.3 | 76.5 | 17.2 |
Shipments | 5.3 | 1.0 | +4.3 | 36.2 | 31(+) | 25.4 | 54.5 | 20.1 |
Delivery Time | –11.8 | 2.3 | –14.1 | –1.3 | 1(–) | 6.6 | 75.0 | 18.4 |
Finished Goods Inventories | –10.3 | –2.3 | –8.0 | 0.4 | 2(–) | 9.2 | 71.3 | 19.5 |
Prices Paid for Raw Materials | 21.8 | 25.8 | –4.0 | 34.5 | 32(+) | 40.2 | 41.4 | 18.4 |
Prices Received for Finished Goods | 16.1 | 26.4 | –10.3 | 21.2 | 31(+) | 31.0 | 54.0 | 14.9 |
Wages and Benefits | 52.4 | 43.4 | +9.0 | 39.5 | 31(+) | 52.8 | 46.8 | 0.4 |
Employment | 22.9 | 11.7 | +11.2 | 23.4 | 30(+) | 31.2 | 60.5 | 8.3 |
Hours Worked | 10.3 | 3.0 | +7.3 | 9.4 | 3(+) | 16.5 | 77.3 | 6.2 |
Capital Expenditures | 7.7 | 9.8 | –2.1 | 19.9 | 30(+) | 23.6 | 60.5 | 15.9 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Nov Index | Oct Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | –9.2 | –14.1 | +4.9 | 19.6 | 7(–) | 13.4 | 64.0 | 22.6 |
General Business Activity | –17.5 | –21.2 | +3.7 | 13.7 | 7(–) | 13.0 | 56.5 | 30.5 |
*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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