Texas Service Sector Outlook Survey

Surveys

October 29, 2024

Results Table

Business Indicators Relating to Facilities and Products in Texas Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Revenue	9.2	10.1	–0.9	10.6	9(+)	28.0	53.2	18.8
Employment	–0.2	2.0	–2.2	6.2	1(–)	10.9	78.0	11.1
Part–Time Employment	–2.0	–0.4	–1.6	1.3	6(–)	3.8	90.4	5.8
Hours Worked	2.5	–0.8	+3.3	2.6	1(+)	7.1	88.3	4.6
Wages and Benefits	16.3	12.3	+4.0	15.8	53(+)	19.1	78.1	2.8
Input Prices	26.1	23.3	+2.8	27.9	54(+)	31.3	63.5	5.2
Selling Prices	4.0	5.4	–1.4	7.6	51(+)	16.0	72.0	12.0
Capital Expenditures	9.2	7.6	+1.6	9.9	51(+)	15.1	79.0	5.9

General Business Conditions Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	3.8	1.2	+2.6	4.3	2(+)	14.4	75.0	10.6
General Business Activity	2.0	–2.6	+4.6	2.2	1(+)	15.6	70.8	13.6

Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	17.9	9.4	+8.5	13.4	41(+)	23.3	71.3	5.4

Business Indicators Relating to Facilities and Products in Texas Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Revenue	40.1	35.1	+5.0	37.3	54(+)	52.2	35.7	12.1
Employment	23.6	16.0	+7.6	23.0	54(+)	30.5	62.5	6.9
Part–Time Employment	5.6	0.9	+4.7	6.6	5(+)	9.7	86.2	4.1
Hours Worked	6.2	6.6	–0.4	5.8	54(+)	10.0	86.2	3.8
Wages and Benefits	45.9	37.1	+8.8	37.4	54(+)	47.2	51.5	1.3
Input Prices	43.9	32.9	+11.0	44.4	214(+)	51.0	42.0	7.1
Selling Prices	26.2	14.6	+11.6	24.5	54(+)	35.4	55.4	9.2
Capital Expenditures	22.5	13.8	+8.7	22.8	53(+)	28.0	66.6	5.5

General Business Conditions Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	25.7	17.4	+8.3	15.5	12(+)	34.8	56.1	9.1
General Business Activity	25.3	16.0	+9.3	12.0	6(+)	33.9	57.5	8.6

October 29, 2024

Results Table

Business Indicators Relating to Facilities and Products in Texas Retail (versus previous month)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Retail Activity in Texas
Sales	–11.4	–8.9	–2.5	3.2	18(–)	22.0	44.7	33.4
Employment	–3.8	–7.7	+3.9	1.6	8(–)	8.4	79.4	12.2
Part–Time Employment	–2.7	–5.0	+2.3	–1.6	3(–)	4.2	88.9	6.9
Hours Worked	1.0	–9.9	+10.9	–2.3	1(+)	5.6	89.8	4.6
Wages and Benefits	3.8	3.9	–0.1	11.2	51(+)	7.0	89.8	3.2
Input Prices	18.7	16.3	+2.4	22.5	54(+)	28.9	60.9	10.2
Selling Prices	–1.0	3.1	–4.1	13.2	1(–)	23.6	51.8	24.6
Capital Expenditures	–1.1	7.5	–8.6	7.6	1(–)	10.9	77.1	12.0
Inventories	7.6	0.6	+7.0	2.7	3(+)	30.4	46.8	22.8
Companywide Retail Activity
Companywide Sales	–9.4	–6.8	–2.6	4.4	7(–)	20.7	49.2	30.1
Companywide Internet Sales	–16.4	–0.3	–16.1	3.8	3(–)	9.5	64.6	25.9

General Business Conditions, Retail Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–11.1	–18.5	+7.4	1.4	13(–)	5.9	77.1	17.0
General Business Activity	–19.8	–14.9	–4.9	–2.7	16(–)	10.6	59.0	30.4

Outlook Uncertainty Current (versus previous month)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Outlook Uncertainty	27.1	18.2	+8.9	11.3	3(+)	31.3	64.6	4.2

Business Indicators Relating to Facilities and Products in Texas, Retail Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend*	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Retail Activity in Texas
Sales	24.8	15.8	+9.0	30.3	17(+)	37.8	49.2	13.0
Employment	7.1	–6.7	+13.8	12.6	1(+)	13.2	80.7	6.1
Part–Time Employment	1.0	–7.5	+8.5	1.5	1(+)	4.1	92.8	3.1
Hours Worked	5.0	–2.6	+7.6	2.4	1(+)	6.6	91.8	1.6
Wages and Benefits	24.1	20.4	+3.7	29.0	54(+)	25.4	73.3	1.3
Input Prices	40.0	24.5	+15.5	33.8	54(+)	48.9	42.2	8.9
Selling Prices	28.9	3.8	+25.1	28.6	54(+)	42.2	44.4	13.3
Capital Expenditures	11.2	–0.2	+11.4	16.6	1(+)	22.7	65.9	11.5
Inventories	17.0	12.3	+4.7	10.8	12(+)	28.5	60.0	11.5
Companywide Retail Activity
Companywide Sales	29.3	5.8	+23.5	28.8	17(+)	36.9	55.5	7.6
Companywide Internet Sales	21.0	2.5	+18.5	21.0	9(+)	28.9	63.2	7.9

General Business Conditions, Retail Future (six months ahead)
Indicator	Oct Index	Sep Index	Change	Series Average	Trend**	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	25.6	–6.3	+31.9	14.9	1(+)	32.2	61.2	6.6
General Business Activity	25.7	–1.8	+27.5	10.3	1(+)	34.4	56.9	8.7

*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.

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