---
source: Federal Reserve Bank of Dallas
url: https://www.dallasfed.org/research/surveys/tmos/2026/2604
document_type: html
date_retrieved: 2026-04-27
period: April 2026
parent_publication: Texas Manufacturing Outlook Survey
indicators_covered: [General Business Activity Index, Production Index, New Orders, Shipments, Capacity Utilization, Employment, Hours Worked, Capital Expenditures, Prices Paid/Received, Company Outlook, Outlook Uncertainty]
---

# Texas Manufacturing Outlook Survey, April 2026

Texas manufacturing output growth accelerated in April, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, jumped 12 points to 19.0, a reading suggestive of an above-average pace of output expansion.

Other measures of manufacturing activity also showed signs of faster growth this month. The capacity utilization index moved up 13 points to 19.8, the new orders index increased four points to 9.9 and the shipments index rose 13 points to 15.0.

Perceptions of broader business conditions were mixed in April. The general business activity index fell two points to **-2.3**. However, the company outlook index rebounded into positive territory, rising seven points to 3.0. The outlook uncertainty index fell eight points to 17.9.

Employment continued to be flat, but workweeks were slightly longer in April. The employment index was unchanged at -0.9, with the near-zero reading indicating no change in payrolls from March. The hours worked index moved up to 4.0 from 0.9.

## Results Summary

### Current Business Indicators (April 2026)

| Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Increase | % No Change | % Decrease |
|-----------|-----------|-----------|--------|----------------|--------|------------|-------------|------------|
| **Production** | 19.0 | 6.8 | +12.2 | 9.64 | (+) | 36.8% | 45.3% | 17.8% |
| **Capacity Utilization** | 19.8 | 7.2 | +12.6 | 7.54 | (+) | 34.2% | 51.4% | 14.4% |
| **New Orders** | 9.9 | 6.1 | +3.8 | 4.74 | (+) | 32.5% | 44.8% | 22.6% |
| **Growth Rate of Orders** | 8.5 | 2.2 | +6.3 | -1.13 | (+) | 25.8% | 56.9% | 17.3% |
| **Unfilled Orders** | -6.5 | -6.1 | -0.4 | -2.72 | (–) | 12.4% | 68.7% | 18.9% |
| **Shipments** | 15.0 | 1.8 | +13.2 | 7.84 | (+) | 32.0% | 51.0% | 17.0% |
| **Delivery Time** | -7.4 | 2.8 | -10.2 | 0.51 | (–) | 9.8% | 73.0% | 17.2% |
| **Finished Goods Inventories** | -12.1 | -5.0 | -7.1 | -3.32 | (–) | 10.6% | 66.7% | 22.7% |
| **Prices Paid for Raw Materials** | 37.0 | 32.7 | +4.3 | 27.772 | (+) | 42.8% | 51.4% | 5.8% |
| **Prices Received for Finished Goods** | 27.6 | 18.4 | +9.2 | 9.016 | (+) | 31.0% | 65.6% | 3.4% |
| **Wages and Benefits** | 24.8 | 25.2 | -0.4 | 21.072 | (+) | 30.3% | 64.2% | 5.5% |
| **Employment** | -0.9 | -1.0 | +0.1 | 7.12 | (–) | 14.1% | 70.9% | 15.0% |
| **Hours Worked** | 4.0 | 0.9 | +3.1 | 3.04 | (+) | 16.5% | 71.0% | 12.5% |
| **Capital Expenditures** | 3.1 | 5.7 | -2.6 | 6.62 | (+) | 15.2% | 72.6% | 12.1% |

### General Business Conditions (Current)

| Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Improved | % No Change | % Worsened |
|-----------|-----------|-----------|--------|----------------|--------|------------|-------------|------------|
| **Company Outlook** | 3.0 | -3.5 | +6.5 | 4.11 | (+) | 23.6% | 55.8% | 20.6% |
| **General Business Activity** | **-2.3** | **-0.2** | **-2.1** | 0.22 | (–) | 19.6% | 58.5% | 21.9% |

### Outlook Uncertainty

| Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Increase | % No Change | % Decrease |
|-----------|-----------|-----------|--------|----------------|--------|------------|-------------|------------|
| **Outlook Uncertainty** | 17.9 | 26.0 | -8.1 | 16.94 | (+) | 32.8% | 52.2% | 14.9% |

### Future Business Indicators (Six Months Ahead)

| Indicator | Apr Index | Mar Index | Change | Series Average | Trend* | % Increase | % No Change | % Decrease |
|-----------|-----------|-----------|--------|----------------|--------|------------|-------------|------------|
| **Production** | 34.6 | 35.7 | -1.1 | 36.072 | (+) | 47.8% | 39.0% | 13.2% |
| **Capacity Utilization** | 37.4 | 27.0 | +10.4 | 32.872 | (+) | 48.0% | 41.4% | 10.6% |
| **New Orders** | 31.4 | 29.2 | +2.2 | 33.442 | (+) | 44.4% | 42.6% | 13.0% |
| **Growth Rate of Orders** | 24.4 | 17.5 | +6.9 | 24.732 | (+) | 37.4% | 49.7% | 13.0% |
| **Unfilled Orders** | 6.0 | -0.7 | +6.7 | 2.71 | (+) | 11.7% | 82.6% | 5.7% |
| **Shipments** | 36.3 | 28.8 | +7.5 | 34.372 | (+) | 46.3% | 43.8% | 10.0% |
| **Delivery Time** | -2.2 | 3.8 | -6.0 | -1.31 | (–) | 6.5% | 84.8% | 8.7% |
| **Finished Goods Inventories** | 4.9 | 4.1 | +0.8 | -0.25 | (+) | 19.4% | 66.1% | 14.5% |
| **Prices Paid for Raw Materials** | 47.3 | 50.7 | -3.4 | 34.073 | (+) | 51.3% | 44.7% | 4.0% |
| **Prices Received for Finished Goods** | 38.1 | 39.2 | -1.1 | 21.772 | (+) | 44.4% | 49.2% | 6.3% |
| **Wages and Benefits** | 35.5 | 38.0 | -2.5 | 39.026 | 3 (+) | 39.9% | 55.7% | 4.4% |
| **Employment** | 21.6 | 19.5 | +2.1 | 22.771 | (+) | 33.4% | 54.8% | 11.8% |
| **Hours Worked** | 0.7 | 1.4 | -0.7 | 8.52 | (+) | 9.3% | 82.1% | 8.6% |
| **Capital Expenditures** | 21.6 | 24.8 | -3.2 | 19.471 | (+) | 28.9% | 63.8% | 7.3% |

### Future General Business Conditions

| Indicator | Apr Index | Mar Index | Change | Series Average | Trend** | % Improved | % No Change | % Worsened |
|-----------|-----------|-----------|--------|----------------|--------|------------|-------------|------------|
| **Company Outlook** | 15.6 | 18.2 | -2.6 | 18.312 | (+) | 30.2% | 55.2% | 14.6% |
| **General Business Activity** | 14.1 | 10.6 | +3.5 | 12.312 | (+) | 28.0% | 58.1% | 13.9% |

*Shown is the number of consecutive months of expansion or contraction in the underlying indicator.
**Shown is the number of consecutive months of improvement or worsening in the underlying indicator.
Data have been seasonally adjusted as necessary.

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## Comments from Survey Respondents

Survey participants are given the opportunity to submit comments on current issues that may be affecting their businesses. Some comments have been edited for grammar and clarity.

**Beverage and tobacco product manufacturing**
> We are starting to see some upward pressure on prices, especially with food and anything with a significant energy cost component.

**Fabricated metal product manufacturing**
> Middle East conflict, and fuel prices add uncertainty to economic and demand outlook.
> April has returned back to flat, just as January and February were.

**Food manufacturing**
> Feeling good about the economy right now based on orders and future business.
> Continued decline in consumer segment purchasing power as well as disarray at the federal level is impacting our customers, input costs, supply chain and financial viability. The long-term effect of the closure of the Strait of Hormuz is yet to be felt.

**Machinery manufacturing**

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**Key verification:** The general business activity index for April 2026 is **-2.3**, down from -0.2 in March, matching the event payload exactly. Production index of 19.0 and other indicators confirm this is the correct release.