Texas Manufacturing Outlook Survey: General business activity: 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 general business activity (share of CEOs seeing a future increase minus share forecasting a decrease) was 17.5 in August 2025, versus 13.4 in July 2025.
Sample. The monthly series presented in the graph has 254 data points. The period covered by the series is from June 2004 to August 2025.
History. Take a look at a few statistics calculated on the full sample: the diffusion index reached its lowest level of -47.0 in November 2008; it hit a maximum of 55.2 in December 2004; it had an average value of 12.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 10.8 |
| 2025-07-31 | 13.4 |
| 2025-08-31 | 17.5 |
Hint. We organize time series into worksheets and datasets to make your life easier. By moving down the page, you will discover how we structured further material linked to the statistics found here.
Not for investment purposes. Time series and other data accessible on this web site are not suitable for investment purposes or as a basis for financial-decision making. Users should obtain expert advice and do independent analysis before pledging money to any investment.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will general business activity 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) |
Series in the same data set
Discover the other time series included in this data set.