Texas Manufacturing Outlook Survey: Capital expenditures: Future (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 future increase minus share forecasting a decrease) was 21.1 in August 2025, compared to 12.1 in July 2025.
Sample. In this monthly series, there are a total of 254 records. The series covers the time period going from June 2004 to August 2025.
History. Check out some statistics we computed on the whole sample: the diffusion index averaged 19.3; it reached its minimum of -27.7 in January 2009; it achieved a maximum of 49.2 in January 2005.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 13.3 |
| 2025-07-31 | 12.1 |
| 2025-08-31 | 21.1 |
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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 | 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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