Texas Manufacturing Outlook Survey
Results Table
Business Indicators Relating to Facilities and Products in Texas Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 3.9 | –0.9 | +4.8 | 9.7 | 1(+) | 30.5 | 43.0 | 26.6 |
Capacity Utilization | –2.5 | –4.8 | +2.3 | 7.6 | 2(–) | 23.8 | 49.9 | 26.3 |
New Orders | –0.9 | –11.9 | +11.0 | 4.9 | 10(–) | 28.1 | 42.9 | 29.0 |
Growth Rate of Orders | –3.8 | –12.5 | +8.7 | –0.9 | 8(–) | 22.3 | 51.6 | 26.1 |
Unfilled Orders | –7.4 | –14.1 | +6.7 | –2.4 | 4(–) | 8.9 | 74.8 | 16.3 |
Shipments | –2.0 | –5.9 | +3.9 | 7.9 | 2(–) | 29.1 | 39.8 | 31.1 |
Delivery Time | –2.1 | –5.2 | +3.1 | 0.8 | 21(–) | 9.7 | 78.5 | 11.8 |
Finished Goods Inventories | 1.1 | –14.1 | +15.2 | –3.2 | 1(+) | 19.0 | 63.1 | 17.9 |
Prices Paid for Raw Materials | 10.5 | 28.5 | –18.0 | 27.0 | 56(+) | 21.6 | 67.3 | 11.1 |
Prices Received for Finished Goods | –3.4 | 8.8 | –12.2 | 8.6 | 1(–) | 10.3 | 76.0 | 13.7 |
Wages and Benefits | 17.7 | 18.6 | –0.9 | 21.2 | 56(+) | 21.3 | 75.1 | 3.6 |
Employment | 0.3 | 4.9 | –4.6 | 7.4 | 2(+) | 16.1 | 68.1 | 15.8 |
Hours Worked | –0.9 | 0.3 | –1.2 | 3.1 | 1(–) | 14.5 | 70.1 | 15.4 |
Capital Expenditures | 11.2 | 7.8 | +3.4 | 6.6 | 15(+) | 22.6 | 66.0 | 11.4 |
General Business Conditions Current (versus previous month) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 8.0 | 5.8 | +2.2 | 4.4 | 2(+) | 24.5 | 59.0 | 16.5 |
General Business Activity | 3.4 | –2.7 | +6.1 | 0.7 | 1(+) | 21.2 | 61.0 | 17.8 |
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty | 1.2 | 5.9 | –4.7 | 16.8 | 44(+) | 22.6 | 56.0 | 21.4 |
Business Indicators Relating to Facilities and Products in Texas Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Production | 32.7 | 44.0 | –11.3 | 36.3 | 56(+) | 43.9 | 44.9 | 11.2 |
Capacity Utilization | 33.6 | 35.2 | –1.6 | 33.2 | 56(+) | 42.2 | 49.3 | 8.6 |
New Orders | 35.4 | 44.9 | –9.5 | 33.7 | 26(+) | 42.8 | 49.7 | 7.4 |
Growth Rate of Orders | 27.0 | 36.8 | –9.8 | 24.9 | 19(+) | 34.4 | 58.2 | 7.4 |
Unfilled Orders | 0.9 | 10.2 | –9.3 | 2.8 | 5(+) | 8.9 | 83.1 | 8.0 |
Shipments | 33.7 | 37.8 | –4.1 | 34.7 | 56(+) | 42.3 | 49.2 | 8.6 |
Delivery Time | 1.8 | –3.7 | +5.5 | –1.3 | 1(+) | 7.7 | 86.4 | 5.9 |
Finished Goods Inventories | –1.3 | –5.1 | +3.8 | –0.1 | 4(–) | 12.3 | 74.1 | 13.6 |
Prices Paid for Raw Materials | 25.9 | 32.5 | –6.6 | 33.3 | 57(+) | 36.8 | 52.3 | 10.9 |
Prices Received for Finished Goods | 25.9 | 27.8 | –1.9 | 20.8 | 56(+) | 32.1 | 61.7 | 6.2 |
Wages and Benefits | 39.0 | 41.7 | –2.7 | 39.3 | 247(+) | 41.9 | 55.2 | 2.9 |
Employment | 28.2 | 25.3 | +2.9 | 22.9 | 55(+) | 32.4 | 63.4 | 4.2 |
Hours Worked | 11.4 | 11.5 | –0.1 | 8.8 | 9(+) | 21.4 | 68.6 | 10.0 |
Capital Expenditures | 22.2 | 13.2 | +9.0 | 19.4 | 55(+) | 27.7 | 66.8 | 5.5 |
General Business Conditions Future (six months ahead) | ||||||||
Indicator | Dec Index | Nov Index | Change | Series Average | Trend** | % Reporting Increase | % Reporting No Change | % Reporting Worsened |
Company Outlook | 18.8 | 36.3 | –17.5 | 18.4 | 13(+) | 29.8 | 59.2 | 11.0 |
General Business Activity | 20.6 | 31.2 | –10.6 | 12.4 | 7(+) | 33.2 | 54.2 | 12.6 |
*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.
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