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. According to survey data about manufacturers collected by the Federal Reserve in Texas, 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 observations overall in the monthly time series presented in the graph above. The time span covered by the series is from June 2004 to August 2025.
History. Have a look at some summary statistics we computed on the full sample: the diffusion index had an average value of 33.0; it hit a trough of -17.0 in March 2020; it achieved a maximum of 69.4 in September 2004.
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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