Texas Manufacturing Outlook Survey

September 28, 2026

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Sep Index	Aug Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	29.5	16.1	+13.4	9.7	9(+)	41.5	46.6	12.0
Capacity Utilization	23.9	12.8	+11.1	7.5	9(+)	35.8	52.3	11.9
New Orders	30.7	22.0	+8.7	4.8	9(+)	44.3	42.0	13.6
Growth Rate of Orders	19.1	8.1	+11.0	–1.0	2(+)	36.2	46.7	17.1
Unfilled Orders	22.7	–1.3	+24.0	–2.6	1(+)	27.7	67.3	5.0
Shipments	24.8	14.1	+10.7	7.9	9(+)	41.5	41.8	16.7
Delivery Time	17.5	12.5	+5.0	0.7	5(+)	22.3	72.9	4.8
Finished Goods Inventories	–9.5	2.9	–12.4	–3.3	1(–)	14.3	61.9	23.8
Prices Paid for Raw Materials	52.2	44.1	+8.1	28.0	77(+)	54.9	42.4	2.7
Prices Received for Finished Goods	27.6	22.7	+4.9	9.2	21(+)	31.1	65.4	3.5
Wages and Benefits	27.4	21.1	+6.3	21.1	77(+)	27.5	72.4	0.1
Employment	15.1	8.0	+7.1	7.1	5(+)	26.5	62.1	11.4
Hours Worked	5.6	5.9	–0.3	3.0	9(+)	13.4	78.8	7.8
Capital Expenditures	8.5	8.2	+0.3	6.7	7(+)	17.7	73.1	9.2

General Business Conditions Current (versus previous month)
Indicator	Sep Index	Aug Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	8.7	19.2	–10.5	4.2	6(+)	26.5	55.7	17.8
General Business Activity	9.8	11.6	–1.8	0.3	3(+)	26.9	56.0	17.1

Indicator	Sep Index	Aug Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	11.3	8.7	+2.6	16.6	9(+)	24.2	62.9	12.9

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Sep Index	Aug Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Production	40.3	40.9	–0.6	36.0	77(+)	48.8	42.7	8.5
Capacity Utilization	38.8	38.6	+0.2	32.8	77(+)	46.7	45.4	7.9
New Orders	39.5	42.4	–2.9	33.4	47(+)	45.6	48.3	6.1
Growth Rate of Orders	29.2	41.0	–11.8	24.7	37(+)	34.6	60.0	5.4
Unfilled Orders	13.8	15.3	–1.5	2.8	4(+)	17.8	78.2	4.0
Shipments	39.2	45.2	–6.0	34.4	77(+)	46.7	45.7	7.5
Delivery Time	13.9	15.4	–1.5	–1.1	5(+)	20.4	73.1	6.5
Finished Goods Inventories	1.8	–1.6	+3.4	–0.2	1(+)	15.8	70.2	14.0
Prices Paid for Raw Materials	51.3	53.5	–2.2	34.2	78(+)	56.8	37.7	5.5
Prices Received for Finished Goods	42.8	40.9	+1.9	22.0	77(+)	48.2	46.4	5.4
Wages and Benefits	48.3	46.9	+1.4	39.1	268(+)	51.5	45.3	3.2
Employment	18.1	34.5	–16.4	22.7	76(+)	30.9	56.3	12.8
Hours Worked	14.5	15.6	–1.1	8.5	7(+)	21.3	71.9	6.8
Capital Expenditures	23.1	25.9	–2.8	19.4	76(+)	31.7	59.7	8.6

General Business Conditions Future (six months ahead)
Indicator	Sep Index	Aug Index	Change	Series Average	Trend**	% Reporting Increase	% Reporting No Change	% Reporting Worsened
Company Outlook	31.5	35.3	–3.8	18.4	17(+)	40.0	51.5	8.5
General Business Activity	20.8	37.2	–16.4	12.5	17(+)	34.4	52.0	13.6

*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.