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Texas Service Sector Outlook Survey

December 31, 2019

Results Table

Report


Historical data are available from January 2007 to the most current release month.

Business Indicators Relating to Facilities and Products in Texas
Current (versus previous month)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease

Revenue

17.9

12.2

+5.7

12.2

121(+)

34.2

49.5

16.3

Employment

5.5

7.0

–1.5

6.7

118(+)

16.8

71.9

11.3

Part–Time Employment

2.3

–2.2

+4.5

1.8

1(+)

6.3

89.7

4.0

Hours Worked

4.1

2.9

+1.2

2.8

38(+)

7.8

88.5

3.7

Wages and Benefits

19.2

16.2

+3.0

14.6

127(+)

22.8

73.6

3.6

Input Prices

25.7

24.7

+1.0

25.4

128(+)

28.7

68.3

3.0

Selling Prices

6.9

0.7

+6.2

5.5

2(+)

15.9

75.1

9.0

Capital Expenditures

11.8

10.4

+1.4

10.8

124(+)

19.3

73.2

7.5

General Business Conditions
Current (versus previous month)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend**% Reporting Improved% Reporting
No Change
% Reporting Worsened

Company Outlook

11.3

10.3

+1.0

6.2

4(+)

21.7

67.9

10.4

General Business Activity

13.5

4.7

+8.8

4.0

7(+)

22.3

68.8

8.8

IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease

Outlook Uncertainty†

1.4

11.2

–9.8

11.4

23(+)

14.9

71.6

13.5

Business Indicators Relating to Facilities and Products in Texas
Future (six months ahead)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease

Revenue

37.8

36.3

+1.5

37.9

130(+)

48.8

40.3

11.0

Employment

22.3

22.6

–0.3

22.2

129(+)

30.5

61.3

8.2

Part–Time Employment

8.7

6.0

+2.7

6.7

6(+)

14.1

80.5

5.4

Hours Worked

4.5

3.9

+0.6

5.4

40(+)

7.8

88.9

3.3

Wages and Benefits

39.4

36.8

+2.6

36.5

156(+)

41.4

56.6

2.0

Input Prices

46.6

39.4

+7.2

44.5

156(+)

48.5

49.6

1.9

Selling Prices

26.5

22.9

+3.6

23.4

128(+)

32.7

61.1

6.2

Capital Expenditures

29.0

23.7

+5.3

24.2

129(+)

36.0

57.0

7.0

General Business Conditions
Future (six months ahead)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend**% Reporting Improved% Reporting
No Change
% Reporting Worsened

Company Outlook

15.6

17.6

–2.0

17.0

12(+)

25.8

64.0

10.2

General Business Activity

17.6

8.5

+9.1

13.6

4(+)

27.0

63.6

9.4

Texas Retail Outlook Survey

December 31, 2019

Historical data are available from January 2007 to the most current release month.

Business Indicators Relating to Facilities and Products in Texas
Retail (versus previous month)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease
Retail Activity in Texas

Sales

13.5

6.2

+7.3

6.9

4(+)

35.6

42.4

22.1

Employment

2.5

7.6

–5.1

2.4

3(+)

10.5

81.5

8.0

Part–Time Employment

9.6

–6.2

+15.8

–1.6

1(+)

11.5

86.5

1.9

Hours Worked

10.7

–0.9

+11.6

–1.3

1(+)

13.2

84.3

2.5

Wages and Benefits

25.1

13.8

+11.3

9.9

106(+)

30.7

63.7

5.6

Input Prices

20.7

20.9

–0.2

19.1

47(+)

26.1

68.5

5.4

Selling Prices

18.4

17.7

+0.7

10.4

33(+)

26.5

65.4

8.1

Capital Expenditures

5.7

6.1

–0.4

9.5

11(+)

13.2

79.2

7.5

Inventories

13.6

–0.5

+14.1

3.9

1(+)

31.4

50.8

17.8

Companywide Retail Activity

Companywide Sales

15.6

–1.8

+17.4

8.5

1(+)

30.6

54.4

15.0

Companywide Internet Sales

14.8

12.2

+2.6

7.0

20(+)

19.1

76.6

4.3

General Business Conditions, Retail
Current (versus previous month)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend**% Reporting Improved% Reporting
No Change
% Reporting Worsened

Company Outlook

15.0

5.4

+9.6

4.5

3(+)

25.9

63.2

10.9

General Business Activity

8.3

9.6

–1.3

0.0

2(+)

20.0

68.3

11.7

Outlook Uncertainty
Current (versus previous month)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease

Outlook Uncertainty†

–9.5

14.3

–23.8

9.7

1(–)

9.4

71.7

18.9

Business Indicators Relating to Facilities and Products in Texas, Retail
Future (six months ahead)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend*% Reporting Increase% Reporting
No Change
% Reporting Decrease
Retail Activity in Texas

Sales

34.0

10.6

+23.4

32.7

7(+)

41.2

51.6

7.2

Employment

11.7

–8.1

+19.8

12.5

1(+)

16.7

78.3

5.0

Part–Time Employment

15.4

–0.4

+15.8

0.7

1(+)

15.5

84.4

0.1

Hours Worked

1.1

–5.4

+6.5

2.7

1(+)

6.5

88.1

5.4

Wages and Benefits

33.4

26.9

+6.5

27.4

132(+)

35.0

63.4

1.6

Input Prices

44.0

31.9

+12.1

33.1

128(+)

44.0

56.0

0.0

Selling Prices

40.8

29.8

+11.0

29.2

128(+)

40.8

59.2

0.0

Capital Expenditures

16.3

–6.4

+22.7

18.3

1(+)

20.4

75.5

4.1

Inventories

12.3

–11.0

+23.3

8.4

1(+)

18.2

75.9

5.9

Companywide Retail Activity

Companywide Sales

27.7

18.5

+9.2

31.2

129(+)

35.5

56.7

7.8

Companywide Internet Sales

26.8

13.9

+12.9

21.9

41(+)

26.8

73.2

0.0

General Business Conditions, Retail
Future (six months ahead)
IndicatorDec IndexNov IndexChangeSeries
Average
Trend**% Reporting Improved% Reporting
No Change
% Reporting Worsened

Company Outlook

13.9

4.6

+9.3

17.4

4(+)

23.5

66.9

9.6

General Business Activity

14.0

1.4

+12.6

13.1

2(+)

21.7

70.6

7.7

*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.

†Added to survey in January 2018.

Data have been seasonally adjusted as necessary, with the exception of the outlook uncertainty index which does not yet have a sufficiently long time series to test for seasonality.

Questions regarding the Texas Service Sector Outlook Survey can be addressed to Christopher Slijk at christopher.slijk@dal.frb.org.

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