Surveys

Texas Manufacturing Outlook Survey

July 28, 2025

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	21.3	1.3	+20.0	9.6	5(+)	35.2	50.9	13.9
Capacity Utilization	17.3	–1.0	+18.3	7.4	1(+)	30.8	55.7	13.5
New Orders	–3.6	–7.3	+3.7	4.7	6(–)	24.3	47.7	27.9
Growth Rate of Orders	–9.1	–17.2	+8.1	–1.1	6(–)	16.3	58.3	25.4
Unfilled Orders	–12.0	–12.1	+0.1	–2.6	11(–)	7.0	74.0	19.0
Shipments	2.7	–7.3	+10.0	7.8	1(+)	28.4	46.0	25.7
Delivery Time	–7.8	–7.9	+0.1	0.6	4(–)	7.6	77.0	15.4
Finished Goods Inventories	–11.2	–11.3	+0.1	–3.2	3(–)	8.6	71.6	19.8
Prices Paid for Raw Materials	41.7	43.0	–1.3	27.4	63(+)	42.3	57.1	0.6
Prices Received for Finished Goods	11.1	26.1	–15.0	8.7	7(+)	15.8	79.5	4.7
Wages and Benefits	13.2	13.4	–0.2	21.1	63(+)	16.0	81.2	2.8
Employment	8.4	5.7	+2.7	7.3	3(+)	17.4	73.6	9.0
Hours Worked	7.7	–8.4	+16.1	3.0	1(+)	15.9	75.9	8.2
Capital Expenditures	6.8	10.9	–4.1	6.6	3(+)	19.9	67.0	13.1

General Business Conditions Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	4.7	–8.9	+13.6	4.3	1(+)	25.5	53.7	20.8
General Business Activity	0.9	–12.7	+13.6	0.4	1(+)	22.1	56.7	21.2

Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	11.2	15.2	–4.0	17.2	51(+)	27.5	56.3	16.3

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	30.3	22.6	+7.7	36.1	63(+)	45.0	40.2	14.7
Capacity Utilization	27.8	20.8	+7.0	33.0	63(+)	42.5	42.8	14.7
New Orders	23.7	22.8	+0.9	33.5	33(+)	40.8	42.1	17.1
Growth Rate of Orders	18.8	15.3	+3.5	24.8	26(+)	33.7	51.4	14.9
Unfilled Orders	–4.2	–6.9	+2.7	2.7	6(–)	7.0	81.8	11.2
Shipments	21.0	27.3	–6.3	34.5	63(+)	39.6	41.8	18.6
Delivery Time	–5.6	–0.5	–5.1	–1.4	5(–)	9.2	76.0	14.8
Finished Goods Inventories	–5.4	–2.6	–2.8	–0.2	5(–)	10.8	73.0	16.2
Prices Paid for Raw Materials	47.7	39.9	+7.8	33.6	64(+)	51.8	44.1	4.1
Prices Received for Finished Goods	43.2	27.3	+15.9	21.2	63(+)	45.9	51.4	2.7
Wages and Benefits	37.2	32.1	+5.1	39.1	63(+)	38.3	60.6	1.1
Employment	27.3	15.4	+11.9	22.8	62(+)	34.8	57.7	7.5
Hours Worked	8.5	–4.5	+13.0	8.7	1(+)	17.0	74.5	8.5
Capital Expenditures	15.5	16.9	–1.4	19.4	62(+)	27.4	60.7	11.9

General Business Conditions Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	21.6	16.4	+5.2	18.3	3(+)	34.1	53.4	12.5
General Business Activity	19.0	14.4	+4.6	12.3	3(+)	35.1	48.8	16.1

*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.