Texas Manufacturing Outlook Survey: General business activity: Current (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 a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for general business activity (share of CEOs seeing a recent increase minus share reporting a decrease) was -1.8 in August 2025, compared to 0.9 in July.
Sample. In the monthly time series shown in the figure, there are 255 data points. The series covers the period extending from June 2004 to August 2025.
History. Here are a few statistics we calculated on the full sample: the diffusion index reached its highest level of 47.9 in June 2004; it reached a trough of -74.4 in April 2020; it had an average value of 0.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | -12.7 |
| 2025-07-31 | 0.9 |
| 2025-08-31 | -1.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did general business activity 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 | 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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