Texas Service Sector Outlook Survey

Surveys

July 30, 2024

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Revenue	7.7	1.9	+5.8	10.6	6(+)	29.4	49.0	21.7
Employment	–0.2	1.8	–2.0	6.3	1(–)	11.4	77.0	11.6
Part–Time Employment	–2.3	–3.7	+1.4	1.4	3(–)	4.2	89.3	6.5
Hours Worked	–0.9	0.7	–1.6	2.6	1(–)	7.7	83.7	8.6
Wages and Benefits	13.4	16.4	–3.0	15.8	50(+)	17.3	78.8	3.9
Input Prices	21.8	24.7	–2.9	27.9	51(+)	27.5	66.8	5.7
Selling Prices	4.9	3.8	+1.1	7.6	48(+)	15.5	73.9	10.6
Capital Expenditures	6.0	7.4	–1.4	9.9	48(+)	14.2	77.6	8.2

General Business Conditions Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	1.0	–1.3	+2.3	4.3	1(+)	14.9	71.2	13.9
General Business Activity	–0.1	–4.1	+4.0	2.3	26(–)	16.1	67.7	16.2

Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	8.4	13.6	–5.2	13.4	38(+)	20.6	67.2	12.2

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Revenue	35.7	30.9	+4.8	37.3	51(+)	49.1	37.5	13.4
Employment	17.8	16.1	+1.7	23.0	51(+)	28.7	60.4	10.9
Part–Time Employment	3.7	3.3	+0.4	6.6	2(+)	10.3	83.1	6.6
Hours Worked	6.7	3.5	+3.2	5.8	51(+)	10.7	85.3	4.0
Wages and Benefits	35.6	36.9	–1.3	37.4	51(+)	38.4	58.8	2.8
Input Prices	32.5	38.1	–5.6	44.5	211(+)	39.8	52.9	7.3
Selling Prices	18.9	13.4	+5.5	24.6	51(+)	29.4	60.1	10.5
Capital Expenditures	16.6	14.4	+2.2	22.9	50(+)	25.9	64.9	9.3

General Business Conditions Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	20.5	8.8	+11.7	15.4	9(+)	31.6	57.3	11.1
General Business Activity	19.1	3.0	+16.1	11.9	3(+)	31.8	55.5	12.7

July 30, 2024

Results Table

Business Indicators Relating to Facilities and Products in Texas Retail (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Retail Activity in Texas
Sales	–18.1	–18.8	+0.7	3.4	15(–)	22.0	37.8	40.1
Employment	–6.5	–4.0	–2.5	1.7	5(–)	4.0	85.5	10.5
Part–Time Employment	0.3	–1.2	+1.5	–1.5	1(+)	7.2	85.9	6.9
Hours Worked	–12.3	–8.6	–3.7	–2.2	7(–)	3.6	80.5	15.9
Wages and Benefits	6.3	13.7	–7.4	11.3	48(+)	10.1	86.1	3.8
Input Prices	11.3	10.0	+1.3	22.6	51(+)	27.6	56.1	16.3
Selling Prices	–2.1	1.9	–4.0	13.4	1(–)	21.6	54.7	23.7
Capital Expenditures	–1.5	4.4	–5.9	7.7	1(–)	12.5	73.5	14.0
Inventories	–7.7	0.7	–8.4	2.7	1(–)	20.6	51.1	28.3
Companywide Retail Activity
Companywide Sales	–14.5	–15.5	+1.0	4.6	4(–)	21.6	42.3	36.1
Companywide Internet Sales	1.5	–6.1	+7.6	4.0	1(+)	18.6	64.3	17.1

General Business Conditions, Retail Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–20.3	–17.3	–3.0	1.6	10(–)	6.0	67.7	26.3
General Business Activity	–18.3	–22.7	+4.4	–2.5	13(–)	9.5	62.7	27.8

Outlook Uncertainty Current (versus previous month)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	0.0	7.3	–7.3	11.0	1()	14.0	72.0	14.0

Business Indicators Relating to Facilities and Products in Texas, Retail Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Retail Activity in Texas
Sales	30.9	18.6	+12.3	30.5	14(+)	38.7	53.5	7.8
Employment	–2.1	12.5	–14.6	12.8	1(–)	10.6	76.6	12.7
Part–Time Employment	–0.4	–5.6	+5.2	1.6	2(–)	8.5	82.6	8.9
Hours Worked	3.9	0.4	+3.5	2.4	3(+)	7.3	89.3	3.4
Wages and Benefits	26.8	30.2	–3.4	29.1	51(+)	27.9	71.0	1.1
Input Prices	14.9	23.1	–8.2	33.8	51(+)	29.8	55.3	14.9
Selling Prices	8.6	5.9	+2.7	28.8	51(+)	27.7	53.2	19.1
Capital Expenditures	22.2	19.6	+2.6	16.8	8(+)	33.7	54.8	11.5
Inventories	20.6	7.6	+13.0	10.7	9(+)	32.5	55.6	11.9
Companywide Retail Activity
Companywide Sales	22.8	9.5	+13.3	29.0	14(+)	34.0	54.8	11.2
Companywide Internet Sales	16.2	9.8	+6.4	21.2	6(+)	24.3	67.6	8.1

General Business Conditions, Retail Future (six months ahead)
Indicator	Jul Index	Jun Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	9.2	1.1	+8.1	15.0	6(+)	24.9	59.4	15.7
General Business Activity	17.0	–6.4	+23.4	10.3	1(+)	28.3	60.4	11.3

*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 Service Sector Outlook Survey can be addressed to Jesus Cañas at jesus.canas@dal.frb.org.

Results Table

Texas Retail Outlook Survey

Results Table