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 22.8 in September 2026, compared to 24.2 in the previous month.
Sample. This monthly series has 267 observations. The series covers the period going from June 2004 to September 2026.
History. Here are a few descriptive statistics computed on the full sample: the diffusion index had a mean of 19.4; it recorded its maximum of 49.2 in January 2005; it recorded a minimum of -27.7 in January 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 23.0000 |
| 2026-08-31 | 24.2000 |
| 2026-09-30 | 22.8000 |
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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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