Texas Service Sector Outlook Survey
May 27, 2020
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 |
Revenue | –28.1 | –65.3 | +37.2 | 11.0 | 3(–) | 21.4 | 29.0 | 49.5 |
Employment | –10.4 | –34.5 | +24.1 | 6.2 | 3(–) | 9.6 | 70.3 | 20.0 |
Part–Time Employment | –14.5 | –32.8 | +18.3 | 1.3 | 3(–) | 6.1 | 73.3 | 20.6 |
Hours Worked | –9.4 | –42.9 | +33.5 | 2.2 | 3(–) | 18.7 | 53.2 | 28.1 |
Wages and Benefits | –7.2 | –23.8 | +16.6 | 14.1 | 3(–) | 11.6 | 69.6 | 18.8 |
Input Prices | 9.9 | –0.7 | +10.6 | 25.0 | 1(+) | 23.1 | 63.7 | 13.2 |
Selling Prices | –19.7 | –30.7 | +11.0 | 5.1 | 3(–) | 6.0 | 68.3 | 25.7 |
Capital Expenditures | –23.2 | –47.8 | +24.6 | 10.0 | 3(–) | 10.4 | 56.0 | 33.6 |
| 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 | –30.2 | –71.8 | +41.6 | 4.9 | 3(–) | 16.1 | 37.6 | 46.3 |
General Business Activity | –41.7 | –83.9 | +42.2 | 2.7 | 3(–) | 15.2 | 27.9 | 56.9 |
| Indicator | May Index | Apr Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 26.2 | 43.2 | –17.0 | 13.5 | 28(+) | 46.9 | 32.4 | 20.7 |
| 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 |
Revenue | 6.6 | –22.6 | +29.2 | 36.8 | 1(+) | 42.6 | 21.5 | 36.0 |
Employment | 4.5 | –12.6 | +17.1 | 21.6 | 1(+) | 26.8 | 50.9 | 22.3 |
Part–Time Employment | –8.0 | –16.8 | +8.8 | 6.4 | 3(–) | 13.0 | 66.0 | 21.0 |
Hours Worked | 12.9 | –5.1 | +18.0 | 5.3 | 1(+) | 25.8 | 61.3 | 12.9 |
Wages and Benefits | 13.9 | –1.4 | +15.3 | 36.0 | 1(+) | 26.2 | 61.6 | 12.3 |
Input Prices | 24.1 | 2.6 | +21.5 | 43.8 | 161(+) | 33.4 | 57.3 | 9.3 |
Selling Prices | 1.2 | –15.4 | +16.6 | 22.9 | 1(+) | 21.3 | 58.6 | 20.1 |
Capital Expenditures | –8.3 | –27.5 | +19.2 | 23.4 | 3(–) | 22.5 | 46.7 | 30.8 |
| General Business Conditions Future (six months ahead) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –5.9 | –29.9 | +24.0 | 16.0 | 3(–) | 30.9 | 32.3 | 36.8 |
General Business Activity | –11.1 | –34.3 | +23.2 | 12.7 | 3(–) | 31.6 | 25.6 | 42.7 |
Texas Retail Outlook Survey
| Business Indicators Relating to Facilities and Products in Texas Retail (versus previous month) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Retail Activity in Texas | ||||||||
Sales | –6.2 | –78.2 | +72.0 | 5.7 | 4(–) | 32.1 | 29.7 | 38.3 |
Employment | –7.2 | –47.6 | +40.4 | 1.9 | 3(–) | 11.7 | 69.4 | 18.9 |
Part–Time Employment | –12.9 | –40.7 | +27.8 | –2.1 | 3(–) | 5.6 | 75.9 | 18.5 |
Hours Worked | –15.5 | –63.8 | +48.3 | –2.0 | 4(–) | 21.8 | 40.9 | 37.3 |
Wages and Benefits | –21.4 | –34.7 | +13.3 | 9.3 | 3(–) | 5.1 | 68.4 | 26.5 |
Input Prices | 3.2 | –23.8 | +27.0 | 18.6 | 1(+) | 15.6 | 72.0 | 12.4 |
Selling Prices | –9.1 | –38.5 | +29.4 | 9.8 | 3(–) | 13.8 | 63.3 | 22.9 |
Capital Expenditures | –27.6 | –60.5 | +32.9 | 7.9 | 3(–) | 7.6 | 57.2 | 35.2 |
Inventories | –41.8 | –46.0 | +4.2 | 2.9 | 4(–) | 13.3 | 31.6 | 55.1 |
Companywide Retail Activity | ||||||||
Companywide Sales | –23.7 | –75.0 | +51.3 | 7.1 | 4(–) | 26.4 | 23.5 | 50.1 |
Companywide Internet Sales | –13.1 | –33.2 | +20.1 | 6.3 | 3(–) | 16.7 | 53.5 | 29.8 |
| General Business Conditions, Retail Current (versus previous month) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | –12.8 | –84.6 | +71.8 | 3.1 | 5(–) | 27.2 | 32.8 | 40.0 |
General Business Activity | –17.9 | –84.8 | +66.9 | –1.2 | 5(–) | 24.6 | 32.9 | 42.5 |
| Outlook Uncertainty Current (versus previous month) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Outlook Uncertainty† | 5.4 | 41.0 | –35.6 | 11.6 | 5(+) | 37.5 | 30.4 | 32.1 |
| Business Indicators Relating to Facilities and Products in Texas, Retail Future (six months ahead) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend* | % Reporting Increase | % Reporting No Change | % Reporting Decrease |
Retail Activity in Texas | ||||||||
Sales | 33.1 | –13.4 | +46.5 | 31.8 | 1(+) | 56.3 | 20.5 | 23.2 |
Employment | 4.6 | –8.1 | +12.7 | 11.8 | 1(+) | 20.6 | 63.4 | 16.0 |
Part–Time Employment | –2.1 | –18.6 | +16.5 | 0.5 | 3(–) | 13.4 | 71.1 | 15.5 |
Hours Worked | 15.8 | –2.5 | +18.3 | 2.6 | 1(+) | 30.8 | 54.2 | 15.0 |
Wages and Benefits | 20.3 | –1.0 | +21.3 | 27.0 | 1(+) | 28.5 | 63.3 | 8.2 |
Input Prices | 21.8 | –12.5 | 34.3 | 32.6 | 1(+) | 30.9 | 60.0 | 9.1 |
Selling Prices | 24.5 | –10.9 | +35.4 | 28.7 | 1(+) | 39.6 | 45.3 | 15.1 |
Capital Expenditures | –5.5 | –23.2 | +17.7 | 17.1 | 3(–) | 21.8 | 50.9 | 27.3 |
Inventories | 5.3 | –24.7 | +30.0 | 7.8 | 1(+) | 35.8 | 33.8 | 30.5 |
Companywide Retail Activity | ||||||||
Companywide Sales | 19.8 | –14.6 | +34.4 | 30.3 | 1(+) | 44.2 | 31.4 | 24.4 |
Companywide Internet Sales | 28.6 | 5.2 | +23.4 | 21.7 | 2(+) | 38.1 | 52.4 | 9.5 |
| General Business Conditions, Retail Future (six months ahead) | ||||||||
| Indicator | May Index | Apr Index | Change | Series Average | Trend** | % Reporting Improved | % Reporting No Change | % Reporting Worsened |
Company Outlook | 29.9 | –23.1 | +53.0 | 16.6 | 1(+) | 47.5 | 34.9 | 17.6 |
General Business Activity | 24.3 | –22.4 | +46.7 | 12.3 | 1(+) | 47.3 | 29.7 | 23.0 |
*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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