Texas Manufacturing Outlook Survey: Capital expenditures: 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 capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) was 23.1 in September 2026, compared to 25.9 in August 2026.
Sample. This monthly time series has a total of 268 data points. The time period covered by the series stretches from June 2004 to September 2026.
History. Here's a snapshot of some statistics calculated on the entire sample: the diffusion index averaged 19.4; it reached a trough of -30.3 in January 2009; it reached a maximum of 48.5 in October 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 25.9000 |
| 2026-08-31 | 25.9000 |
| 2026-09-30 | 23.1000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capital expenditures 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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