• Federal Reserve Bank of Dallas

ABSTRACT:

The Texas Manufacturing Outlook Survey (TMOS) is a monthly economic indicator that collects data from approximately 100 Texas manufacturers about changes in business conditions. Initiated in 2004, the survey measures changes in production, new orders, employment, prices, and company outlook, calculating indexes by subtracting the percentage of respondents reporting decreases from those reporting increases. The survey is significant for three key reasons: (1) it strongly correlates with both state-level economic measures and national economic indicators, (2) it provides data up to three weeks earlier than comparable national indicators, and (3) it offers insights into manufacturing, a sector that typically experiences economic shifts earlier and more intensely than other industries. With Texas generating 11% of the nation's manufacturing output ($296 billion in 2023) and ranking as the leading exporter of manufactured goods, TMOS serves as a valuable tool for monitoring economic trends at both regional and national levels.

ALTERNATE TITLES:

• TMOS