Surveys

Texas Manufacturing Outlook Survey

November 25, 2024

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	–0.9	14.6	–15.5	9.7	1(–)	25.3	48.5	26.2
Capacity Utilization	–4.8	4.3	–9.1	7.6	1(–)	19.6	56.0	24.4
New Orders	–11.9	–3.7	–8.2	4.9	9(–)	21.4	45.2	33.3
Growth Rate of Orders	–12.5	–11.7	–0.8	–0.8	7(–)	17.8	51.9	30.3
Unfilled Orders	–14.1	–17.5	+3.4	–2.4	3(–)	6.9	72.1	21.0
Shipments	–5.9	1.5	–7.4	8.0	1(–)	24.9	44.3	30.8
Delivery Time	–5.2	–11.5	+6.3	0.8	20(–)	7.5	79.8	12.7
Finished Goods Inventories	–14.1	2.3	–16.4	–3.2	1(–)	10.6	64.7	24.7
Prices Paid for Raw Materials	28.5	16.3	+12.2	27.1	55(+)	30.6	67.3	2.1
Prices Received for Finished Goods	8.8	7.4	+1.4	8.6	12(+)	15.2	78.4	6.4
Wages and Benefits	18.6	23.5	–4.9	21.2	55(+)	20.8	77.0	2.2
Employment	4.9	–5.1	+10.0	7.4	1(+)	19.3	66.3	14.4
Hours Worked	0.3	–5.5	+5.8	3.2	1(+)	10.5	79.3	10.2
Capital Expenditures	7.8	4.6	+3.2	6.6	14(+)	21.1	65.6	13.3

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	5.8	–3.3	+9.1	4.4	1(+)	22.7	60.4	16.9
General Business Activity	–2.7	–3.0	+0.3	0.6	31(–)	16.2	64.9	18.9

Indicator	Nov Index	Oct Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	5.9	16.4	–10.5	17.0	43(+)	23.5	58.8	17.6

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	44.0	42.4	+1.6	36.3	55(+)	52.5	39.0	8.5
Capacity Utilization	35.2	42.0	–6.8	33.2	55(+)	44.3	46.7	9.1
New Orders	44.9	36.6	+8.3	33.7	25(+)	53.2	38.5	8.3
Growth Rate of Orders	36.8	26.0	+10.8	24.8	18(+)	44.6	47.6	7.8
Unfilled Orders	10.2	1.9	+8.3	2.8	4(+)	18.9	72.4	8.7
Shipments	37.8	39.1	–1.3	34.7	55(+)	48.0	41.9	10.2
Delivery Time	–3.7	4.7	–8.4	–1.4	1(–)	8.2	79.9	11.9
Finished Goods Inventories	–5.1	–4.9	–0.2	–0.1	3(–)	14.1	66.7	19.2
Prices Paid for Raw Materials	32.5	29.3	+3.2	33.3	56(+)	37.4	57.7	4.9
Prices Received for Finished Goods	27.8	19.7	+8.1	20.8	55(+)	27.8	72.2	0.0
Wages and Benefits	41.7	40.3	+1.4	39.3	246(+)	43.6	54.5	1.9
Employment	25.3	28.7	–3.4	22.8	54(+)	32.4	60.5	7.1
Hours Worked	11.5	13.8	–2.3	8.8	8(+)	17.1	77.3	5.6
Capital Expenditures	13.2	12.8	+0.4	19.4	54(+)	20.6	72.0	7.4

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	36.3	34.6	+1.7	18.4	12(+)	41.6	53.1	5.3
General Business Activity	31.2	29.6	+1.6	12.4	6(+)	38.4	54.4	7.2

*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.