Texas Manufacturing Outlook Survey: Inventories: 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. According to survey data about manufacturers collected by the Federal Reserve in Texas, the seasonally adjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 3.8 in August 2025, compared to -11.2 in July.
Sample. There are 255 observations in the monthly time series shown in the graph above. The series covers the period stretching from June 2004 to August 2025.
History. Here's a glimpse of some descriptive statistics computed on the full sample: the diffusion index had a mean of -3.2; it recorded its highest level of 21.6 in October 2006; it reached a trough of -29.7 in July 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | -11.3 |
| 2025-07-31 | -11.2 |
| 2025-08-31 | 3.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did finished goods inventories 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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