Surveys

Texas Manufacturing Outlook Survey

October 28, 2024

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	14.6	–3.2	+17.8	9.7	1(+)	34.5	45.6	19.9
Capacity Utilization	4.3	–7.0	+11.3	7.7	1(+)	24.7	54.9	20.4
New Orders	–3.7	–5.2	+1.5	5.0	8(–)	23.8	48.7	27.5
Growth Rate of Orders	–11.7	–8.6	–3.1	–0.8	6(–)	16.8	54.7	28.5
Unfilled Orders	–17.5	–18.0	+0.5	–2.3	2(–)	5.0	72.5	22.5
Shipments	1.5	–7.0	+8.5	8.0	1(+)	28.5	44.5	27.0
Delivery Time	–11.5	–7.5	–4.0	0.8	19(–)	4.4	79.7	15.9
Finished Goods Inventories	2.3	–3.7	+6.0	–3.1	1(+)	16.3	69.8	14.0
Prices Paid for Raw Materials	16.3	18.2	–1.9	27.1	54(+)	21.0	74.2	4.7
Prices Received for Finished Goods	7.4	8.4	–1.0	8.6	11(+)	11.1	85.2	3.7
Wages and Benefits	23.5	18.5	+5.0	21.2	54(+)	23.7	76.1	0.2
Employment	–5.1	2.9	–8.0	7.4	1(–)	14.3	66.3	19.4
Hours Worked	–5.5	–2.5	–3.0	3.2	13(–)	11.5	71.5	17.0
Capital Expenditures	4.6	11.9	–7.3	6.6	13(+)	17.4	69.8	12.8

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	–3.3	–6.4	+3.1	4.4	32(–)	18.1	60.5	21.4
General Business Activity	–3.0	–9.0	+6.0	0.7	30(–)	15.3	66.4	18.3

Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	16.4	17.3	–0.9	17.1	42(+)	23.5	69.4	7.1

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	42.4	35.2	+7.2	36.3	54(+)	47.0	48.3	4.6
Capacity Utilization	42.0	35.3	+6.7	33.2	54(+)	46.9	48.2	4.9
New Orders	36.6	33.3	+3.3	33.6	24(+)	45.1	46.4	8.5
Growth Rate of Orders	26.0	28.9	–2.9	24.8	17(+)	34.8	56.4	8.8
Unfilled Orders	1.9	1.7	+0.2	2.8	3(+)	15.0	71.9	13.1
Shipments	39.1	28.8	+10.3	34.6	54(+)	45.1	49.0	6.0
Delivery Time	4.7	10.7	–6.0	–1.4	4(+)	10.0	84.7	5.3
Finished Goods Inventories	–4.9	–5.0	+0.1	–0.1	2(–)	11.1	72.8	16.0
Prices Paid for Raw Materials	29.3	26.5	+2.8	33.3	55(+)	35.7	57.9	6.4
Prices Received for Finished Goods	19.7	17.5	+2.2	20.8	54(+)	22.2	75.3	2.5
Wages and Benefits	40.3	41.9	–1.6	39.3	245(+)	42.0	56.3	1.7
Employment	28.7	19.0	+9.7	22.8	53(+)	33.2	62.3	4.5
Hours Worked	13.8	4.1	+9.7	8.8	7(+)	21.3	71.2	7.5
Capital Expenditures	12.8	23.3	–10.5	19.4	53(+)	21.7	69.4	8.9

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	34.6	11.1	+23.5	18.3	11(+)	38.7	57.2	4.1
General Business Activity	29.6	11.4	+18.2	12.3	5(+)	38.5	52.6	8.9

*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.