Surveys

Texas Manufacturing Outlook Survey

June 24, 2024

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	0.7	–2.8	+3.5	9.8	1(+)	23.3	54.1	22.6
Capacity Utilization	–4.8	–2.0	–2.8	7.8	2(–)	17.3	60.6	22.1
New Orders	–1.3	–2.2	+0.9	5.2	4(–)	26.0	46.8	27.3
Growth Rate of Orders	–4.3	–10.1	+5.8	–0.6	2(–)	21.1	53.5	25.4
Unfilled Orders	–4.7	–3.1	–1.6	–2.1	9(–)	9.6	76.1	14.3
Shipments	2.8	–3.0	+5.8	8.2	1(+)	24.4	54.0	21.6
Delivery Time	–3.2	–9.2	+6.0	0.9	15(–)	5.0	86.8	8.2
Finished Goods Inventories	–2.5	–2.4	–0.1	–3.2	3(–)	14.6	68.3	17.1
Prices Paid for Raw Materials	21.5	20.4	+1.1	27.2	50(+)	28.8	63.9	7.3
Prices Received for Finished Goods	14.4	4.1	+10.3	8.6	7(+)	17.1	80.2	2.7
Wages and Benefits	24.3	21.0	+3.3	21.2	50(+)	25.8	72.7	1.5
Employment	–2.9	–5.3	+2.4	7.5	3(–)	16.7	63.7	19.6
Hours Worked	–5.0	–3.7	–1.3	3.3	9(–)	10.1	74.8	15.1
Capital Expenditures	0.9	16.8	–15.9	6.6	9(+)	17.0	66.9	16.1

General Business Conditions Current (versus previous month)
Indicator	Jun Index	May Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–6.9	–13.4	+6.5	4.6	28(–)	14.9	63.3	21.8
General Business Activity	–15.1	–19.4	+4.3	0.8	26(–)	10.5	63.9	25.6

Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	9.8	16.4	–6.6	17.1	38(+)	24.4	61.0	14.6

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Jun Index	May Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	27.1	17.3	+9.8	36.3	50(+)	41.7	43.7	14.6
Capacity Utilization	21.3	17.4	+3.9	33.2	50(+)	36.1	49.1	14.8
New Orders	29.8	13.2	+16.6	33.7	20(+)	43.0	43.7	13.2
Growth Rate of Orders	24.5	7.0	+17.5	24.8	13(+)	34.3	55.9	9.8
Unfilled Orders	–2.9	–0.2	–2.7	2.8	4(–)	8.9	79.3	11.8
Shipments	28.1	15.2	+12.9	34.7	50(+)	42.5	43.1	14.4
Delivery Time	–0.4	–1.2	+0.8	–1.5	3(–)	6.8	86.0	7.2
Finished Goods Inventories	–8.0	–3.8	–4.2	0.0	2(–)	9.3	73.3	17.3
Prices Paid for Raw Materials	21.2	29.0	–7.8	33.4	51(+)	28.0	65.2	6.8
Prices Received for Finished Goods	19.5	19.0	+0.5	20.8	50(+)	26.0	67.5	6.5
Wages and Benefits	33.2	31.5	+1.7	39.3	241(+)	34.8	63.6	1.6
Employment	11.7	13.4	–1.7	22.8	49(+)	25.2	61.3	13.5
Hours Worked	3.0	10.2	–7.2	8.8	3(+)	13.0	77.0	10.0
Capital Expenditures	12.6	14.9	–2.3	19.4	49(+)	25.5	61.6	12.9

General Business Conditions Future (six months ahead)
Indicator	Jun Index	May Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	22.9	4.9	+18.0	18.3	7(+)	32.9	57.1	10.0
General Business Activity	12.9	–3.3	+16.2	12.2	1(+)	26.2	60.5	13.3

*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.

Data have been seasonally adjusted as necessary.

Questions regarding the Texas Manufacturing Outlook Survey can be addressed to Emily Kerr at emily.kerr@dal.frb.org.