Texas Manufacturing Outlook Survey: Capital expenditures: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for capital expenditures (share of CEOs seeing a recent increase minus share reporting a decrease) was 16.3 in August 2025, compared to 3.7 in the previous month.
Sample. The monthly series plotted above has 254 observations. The time period covered by the series extends from June 2004 to August 2025.
History. Here's a snapshot of a few simple statistics calculated on the full sample: the diffusion index recorded a maximum of 33.8 in August 2004; it reached its lowest level of -53.1 in April 2020; it had an average value of 6.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 11.4 |
| 2025-07-31 | 3.7 |
| 2025-08-31 | 16.3 |
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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 | No |
| 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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