Texas Manufacturing Outlook Survey: Capital expenditures: Current (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 capital expenditures (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 14.6 in August 2025, versus 6.8 in July.
Sample. The monthly time series presented in the figure has 255 records in total. The span of time covered by the series extends from June 2004 to August 2025.
History. Here's a glimpse of a few statistics we computed on the whole sample: the diffusion index recorded a bottom of -55.6 in April 2020; it recorded its maximum of 32.9 in June 2004; it had a mean of 6.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 10.9 |
| 2025-07-31 | 6.8 |
| 2025-08-31 | 14.6 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did capital expenditures increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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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