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. According to survey data about manufacturers based in Texas, 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, versus 3.7 in the previous month.
Sample. In the monthly series presented in the chart, there are 254 records in total. The series covers the span of time extending from June 2004 to August 2025.
History. Here's a glimpse of a few summary statistics computed on the full sample: the diffusion index hit a maximum of 33.8 in August 2004; it reached its minimum of -53.1 in April 2020; it was equal on average to 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) |
Series in the same data set
Discover the other time series included in this data set.