Texas Manufacturing Outlook Survey

May 26, 2026

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	9.4	19.0	–9.6	9.6	5(+)	27.9	53.6	18.5
Capacity Utilization	5.2	19.8	–14.6	7.5	5(+)	25.1	55.0	19.9
New Orders	6.4	9.9	–3.5	4.7	5(+)	30.5	45.3	24.1
Growth Rate of Orders	–2.9	8.5	–11.4	–1.1	1(–)	21.8	53.5	24.7
Unfilled Orders	3.3	–6.5	+9.8	–2.7	1(+)	18.3	66.7	15.0
Shipments	7.4	15.0	–7.6	7.8	5(+)	30.7	46.0	23.3
Delivery Time	1.4	–7.4	+8.8	0.5	1(+)	13.7	74.0	12.3
Finished Goods Inventories	–12.0	–12.1	+0.1	–3.4	3(–)	13.3	61.3	25.3
Prices Paid for Raw Materials	42.7	37.0	+5.7	27.8	73(+)	46.2	50.3	3.5
Prices Received for Finished Goods	18.9	27.6	–8.7	9.0	17(+)	22.7	73.5	3.8
Wages and Benefits	23.6	24.8	–1.2	21.0	73(+)	26.1	71.4	2.5
Employment	0.2	–0.9	+1.1	7.0	1(+)	17.7	64.8	17.5
Hours Worked	1.8	4.0	–2.2	3.0	5(+)	15.6	70.6	13.8
Capital Expenditures	6.0	3.1	+2.9	6.6	3(+)	19.2	67.6	13.2

General Business Conditions Current (versus previous month)
Indicator	May Index	Apr Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	0.3	3.0	–2.7	4.0	2(+)	25.6	49.2	25.3
General Business Activity	0.4	–2.3	+2.7	0.2	1(+)	24.8	50.7	24.4

Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	19.2	17.9	+1.3	16.9	5(+)	32.9	53.4	13.7

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	May Index	Apr Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	36.8	34.6	+2.2	36.0	73(+)	50.7	35.4	13.9
Capacity Utilization	28.5	37.4	–8.9	32.8	73(+)	45.7	37.1	17.2
New Orders	28.6	31.4	–2.8	33.4	43(+)	42.8	43.0	14.2
Growth Rate of Orders	12.9	24.4	–11.5	24.6	33(+)	29.1	54.7	16.2
Unfilled Orders	0.0	6.0	–6.0	2.7	1()	14.3	71.4	14.3
Shipments	33.7	36.3	–2.6	34.3	73(+)	49.5	34.8	15.8
Delivery Time	3.1	–2.2	+5.3	–1.3	1(+)	13.1	76.9	10.0
Finished Goods Inventories	–2.9	4.9	–7.8	–0.2	1(–)	15.7	65.7	18.6
Prices Paid for Raw Materials	44.9	47.3	–2.4	34.1	74(+)	53.1	38.7	8.2
Prices Received for Finished Goods	28.1	38.1	–10.0	21.8	73(+)	36.6	54.9	8.5
Wages and Benefits	37.9	35.5	+2.4	39.0	264(+)	43.8	50.3	5.9
Employment	17.9	21.6	–3.7	22.7	72(+)	33.6	50.7	15.7
Hours Worked	11.8	0.7	+11.1	8.5	3(+)	20.5	70.8	8.7
Capital Expenditures	12.6	21.6	–9.0	19.3	72(+)	29.3	54.0	16.7

General Business Conditions Future (six months ahead)
Indicator	May Index	Apr Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	16.5	15.6	+0.9	18.2	13(+)	34.6	47.3	18.1
General Business Activity	14.3	14.1	+0.2	12.3	13(+)	32.4	49.5	18.1

*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.