Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Jan Index | Dec Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 0.2 | 9.1 | –8.9 | 10.7 | 32(+) | 27.0 | 46.3 | 26.8 |
Capacity Utilization | 6.0 | 7.9 | –1.9 | 8.6 | 2(+) | 25.0 | 56.0 | 19.0 |
New Orders | –4.0 | –11.0 | +7.0 | 6.3 | 8(–) | 23.3 | 49.4 | 27.3 |
Growth Rate of Orders | –12.3 | –9.3 | –3.0 | 0.4 | 9(–) | 17.6 | 52.5 | 29.9 |
Unfilled Orders | –6.7 | –1.3 | –5.4 | –1.5 | 6(–) | 14.7 | 63.9 | 21.4 |
Shipments | –6.3 | 0.4 | –6.7 | 9.3 | 1(–) | 22.0 | 49.6 | 28.3 |
Delivery Time | –0.2 | –1.0 | +0.8 | 1.3 | 3(–) | 18.1 | 63.7 | 18.3 |
Finished Goods Inventories | –8.9 | –3.3 | –5.6 | –3.2 | 2(–) | 18.6 | 53.9 | 27.5 |
Prices Paid for Raw Materials | 20.5 | 21.9 | –1.4 | 28.0 | 33(+) | 32.7 | 55.1 | 12.2 |
Prices Received for Finished Goods | 9.9 | 10.9 | –1.0 | 9.0 | 30(+) | 18.2 | 73.5 | 8.3 |
Wages and Benefits | 30.5 | 34.2 | –3.7 | 20.9 | 33(+) | 33.4 | 63.8 | 2.9 |
Employment | 17.6 | 13.6 | +4.0 | 7.9 | 31(+) | 31.0 | 55.6 | 13.4 |
Hours Worked | 3.8 | 5.6 | –1.8 | 3.8 | 2(+) | 19.9 | 64.0 | 16.1 |
Capital Expenditures | 11.6 | –2.5 | +14.1 | 6.9 | 1(+) | 22.8 | 66.0 | 11.2 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Jan Index | Dec Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –2.5 | –13.7 | +11.2 | 6.0 | 11(–) | 16.9 | 63.7 | 19.4 |
General Business Activity | –8.4 | –20.0 | +11.6 | 2.3 | 9(–) | 17.2 | 57.2 | 25.6 |
Indicator | Jan Index | Dec Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 16.8 | 15.6 | +1.2 | 16.6 | 21(+) | 29.7 | 57.4 | 12.9 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Jan Index | Dec Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 16.1 | 10.5 | +5.6 | 37.7 | 33(+) | 36.0 | 44.1 | 19.9 |
Capacity Utilization | 19.2 | 9.1 | +10.1 | 34.6 | 33(+) | 34.3 | 50.6 | 15.1 |
New Orders | 14.8 | 3.8 | +11.0 | 35.1 | 3(+) | 32.6 | 49.5 | 17.8 |
Growth Rate of Orders | 8.7 | 4.0 | +4.7 | 26.1 | 7(+) | 27.8 | 53.1 | 19.1 |
Unfilled Orders | –4.1 | –12.8 | +8.7 | 3.3 | 8(–) | 10.9 | 74.2 | 15.0 |
Shipments | 15.5 | 11.2 | +4.3 | 36.0 | 33(+) | 34.2 | 47.2 | 18.7 |
Delivery Time | –12.4 | –4.1 | –8.3 | –1.3 | 3(–) | 7.1 | 73.3 | 19.5 |
Finished Goods Inventories | –1.1 | –1.2 | +0.1 | 0.4 | 4(–) | 17.0 | 64.9 | 18.1 |
Prices Paid for Raw Materials | 14.2 | 19.4 | –5.2 | 34.4 | 34(+) | 30.7 | 52.7 | 16.5 |
Prices Received for Finished Goods | 11.3 | 18.8 | –7.5 | 21.1 | 33(+) | 27.8 | 55.7 | 16.5 |
Wages and Benefits | 43.7 | 41.0 | +2.7 | 39.4 | 33(+) | 46.7 | 50.2 | 3.0 |
Employment | 20.4 | 18.4 | +2.0 | 23.3 | 32(+) | 32.9 | 54.6 | 12.5 |
Hours Worked | 5.4 | 1.1 | +4.3 | 9.3 | 5(+) | 19.6 | 66.2 | 14.2 |
Capital Expenditures | 14.9 | 5.2 | +9.7 | 19.8 | 32(+) | 29.6 | 55.8 | 14.7 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Jan Index | Dec Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 6.0 | –2.4 | +8.4 | 19.4 | 1(+) | 26.6 | 52.8 | 20.6 |
General Business Activity | –9.1 | –9.6 | +0.5 | 13.5 | 9(–) | 16.9 | 57.0 | 26.0 |
*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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