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Texas Service Sector Outlook Survey

February 25, 2020

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)
IndicatorFeb IndexJan IndexChangeSeries
Average		Trend*% Reporting Increase% Reporting
No Change		% Reporting Decrease

Revenue

14.0

18.8

–4.8

12.2

123(+)

29.4

55.2

15.4

Employment

6.1

8.4

–2.3

6.7

120(+)

16.4

73.3

10.3

Part–Time Employment

4.1

0.6

+3.5

1.8

3(+)

6.8

90.5

2.7

Hours Worked

4.4

3.3

+1.1

2.8

40(+)

7.2

90.0

2.8

Wages and Benefits

17.7

19.4

–1.7

14.7

129(+)

20.7

76.3

3.0

Input Prices

26.6

27.0

–0.4

25.4

130(+)

28.3

70.0

1.7

Selling Prices

8.0

16.9

–8.9

5.6

4(+)

14.4

79.2

6.4

Capital Expenditures

11.1

10.1

+1.0

10.8

126(+)

17.5

76.1

6.4

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

Company Outlook

5.1

12.5

–7.4

6.2

6(+)

15.1

74.9

10.0

General Business Activity

7.0

11.1

–4.1

4.1

9(+)

17.2

72.7

10.2

IndicatorFeb IndexJan IndexChangeSeries
Average		Trend*% Reporting Increase% Reporting
No Change		% Reporting Decrease

Outlook Uncertainty†

4.6

7.5

–2.9

11.0

25(+)

14.7

75.3

10.1

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

Revenue

39.9

43.7

–3.8

37.9

132(+)

47.5

44.9

7.6

Employment

26.9

27.7

–0.8

22.3

131(+)

34.6

57.7

7.7

Part–Time Employment

8.2

9.9

–1.7

6.7

8(+)

12.6

82.9

4.4

Hours Worked

4.9

11.0

–6.1

5.5

42(+)

9.2

86.5

4.3

Wages and Benefits

37.0

40.7

–3.7

36.5

158(+)

40.4

56.2

3.4

Input Prices

40.0

41.4

–1.4

44.4

158(+)

42.7

54.6

2.7

Selling Prices

25.9

30.5

–4.6

23.5

130(+)

30.8

64.4

4.9

Capital Expenditures

23.4

25.5

–2.1

24.2

131(+)

29.8

63.8

6.4

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

Company Outlook

15.8

19.7

–3.9

17.0

14(+)

24.5

66.7

8.7

General Business Activity

12.0

17.6

–5.6

13.6

6(+)

22.2

67.6

10.2

Texas Retail Outlook Survey

February 25, 2020

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)
IndicatorFeb IndexJan IndexChangeSeries
Average		Trend*% Reporting Increase% Reporting
No Change		% Reporting Decrease
Retail Activity in Texas

Sales

–2.5

4.8

–7.3

6.8

1(–)

21.2

55.1

23.7

Employment

–1.0

1.0

–2.0

2.4

1(–)

9.3

80.4

10.3

Part–Time Employment

0.0

–8.7

+8.7

–1.6

1()

2.0

95.9

2.0

Hours Worked

–1.7

4.7

–6.4

–1.2

1(–)

7.2

83.9

8.9

Wages and Benefits

14.7

12.2

+2.5

9.9

108(+)

20.4

73.9

5.7

Input Prices

19.9

25.0

–5.1

19.1

49(+)

22.2

75.5

2.3

Selling Prices

27.5

23.2

+4.3

10.6

35(+)

32.2

63.1

4.7

Capital Expenditures

6.0

–2.1

+8.1

9.3

1(+)

10.0

86.0

4.0

Inventories

–9.7

9.6

–19.3

3.8

1(–)

12.4

65.5

22.1

Companywide Retail Activity

Companywide Sales

–2.1

10.5

–12.6

8.5

1(–)

21.5

54.9

23.6

Companywide Internet Sales

16.2

1.9

+14.3

7.0

22(+)

19.3

77.6

3.1

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

Company Outlook

–10.3

0.2

–10.5

4.3

1(–)

6.0

77.7

16.3

General Business Activity

–5.0

–2.1

–2.9

0.0

2(–)

9.6

75.8

14.6

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

Outlook Uncertainty†

2.0

8.5

–6.5

9.4

2(+)

12.2

77.6

10.2

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

Sales

17.1

23.9

–6.8

32.6

9(+)

31.0

55.1

13.9

Employment

–0.2

2.5

–2.7

12.3

1(–)

11.4

77.0

11.6

Part–Time Employment

6.1

6.4

–0.3

0.8

3(+)

10.5

85.1

4.4

Hours Worked

–1.5

6.2

–7.7

2.7

1(–)

5.6

87.3

7.1

Wages and Benefits

23.2

31.5

–8.3

27.4

134(+)

29.6

64.0

6.4

Input Prices

33.3

36.9

–3.6

33.2

130(+)

37.5

58.3

4.2

Selling Prices

29.7

35.6

–5.9

29.2

130(+)

34.0

61.7

4.3

Capital Expenditures

6.4

17.4

–11.0

18.2

3(+)

17.0

72.3

10.6

Inventories

–14.7

4.6

–19.3

8.3

1(–)

13.3

58.7

28.0

Companywide Retail Activity

Companywide Sales

20.4

25.3

–4.9

31.1

131(+)

33.7

53.0

13.3

Companywide Internet Sales

22.2

20.0

+2.2

21.9

43(+)

25.0

72.2

2.8

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

Company Outlook

2.3

14.8

–12.5

17.2

6(+)

16.5

69.3

14.2

General Business Activity

–1.3

8.9

–10.2

13.0

1(–)

12.6

73.5

13.9

*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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