Texas has been experiencing robust expansion with manufacturing rebounding to the highest levels since 2005. Slammed by the recent crash in the oil market a few years ago, the Lone Star State is experiencing continued solid expansion, according to the most recent report from the Federal Reserve Bank of Dallas. All indexes were up in the Texas Manufacturing Outlook Survey for the period ending July 2018, which measures responses from Texas factories on production, expansion, the labor markets, perceptions and expectations of future business conditions.
Production Index Indicates Accelerated Growth
The production index measures the manufacturing conditions of a state, with Texas showing a rise of 6 points to 29.4, which indicates acceleration of output growth. Continued solid expansion is also measured with demand and supply, with new orders and the growth rate of orders coming in at 23.3 and 17.0 actually sliding down a bit but still well above the national average. Other indicators of growth are measured with the shipments index, which increased to 30.8 and evaluation of the capacity utilization index, which also moved up to 25.0.
Labor Picking Up in the Lone Star State
Labor indexes also point to longer work hours, with hiring picking up in Texas indicated by an increase in the employment index to 28.9 – the highest level in 13 years.
Future Expectations for Manufacturing in Texas
Future manufacturing expectations remain positive, with an index of 36.2 for future general business activity and 37.2 for future company outlook.
What Are North American Buyers Buying?
According to the most recent results from one of the leading sourcing platforms, Thomasnet, buyers in North America and overseas are buying from suppliers in Texas. The top 10 categories sourced through the Thomas network over the last twelve weeks include:
- Printed Circuit Boards
- Injection Molded Plastics
- Metal Stampings
- CNC Machining
- Corrugated Boxes
- Contract Manufacturing
- Metal Fabrication
QT Manufacturing in Dallas Meets Increased Demands
When looking for a Texas manufacturer to keep up with increased sourcing demands, be sure to contact QT Manufacturing in Dallas for turnkey manufacturing solutions. We are an ISO9001:2015 and AS9100 rev D registered manufacturer offering injection mold design, mold making, injection molding, CNC machining, tooling and prototyping services from skilled and experienced engineers.
QT Manufacturing meets the demands of critical applications with precision, custom injection molding products delivered on time at a competitive price. We offer decades of experience in delivering engineering and manufacturing solutions with injection molding, CNC and machining services. Contact us to speak with an engineer about how you can improve your cost and quality when sourcing from an experienced Dallas, Texas, turnkey manufacturer.