Texas Manufacturing Outlook Survey: Capacity utilization: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Dallas FED - Monthly
This series is part of the dataset: Texas Manufacturing Outlook Survey (Dallas FED)
Download Full Dataset (.xlsx)Latest updates. Based on firms' responses to the Texas Manufacturing Outlook Survey carried out by the Dallas FED, the seasonally adjusted diffusion index for capacity utilization (share of CEOs seeing a future increase minus share reporting a decrease) was 40.4 in August 2025, compared to 27.8 in July.
Sample. There are 255 records in the monthly series presented in the figure above. The series covers the span of time stretching from June 2004 to August 2025.
History. Here's a peek at some descriptive statistics calculated on the whole sample: the diffusion index achieved a maximum of 69.4 in September 2004; it reached a minimum of -17.0 in March 2020; it averaged 33.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 20.8 |
| 2025-07-31 | 27.8 |
| 2025-08-31 | 40.4 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capacity utilization increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Dallas |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
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