Texas Manufacturing Outlook Survey: Number of employees: Future (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 recent survey data about manufacturing firms in Texas, the seasonally adjusted diffusion index for the number of employees (share of CEOs seeing a future increase minus share forecasting a decrease) was 18.1 in September 2026, compared to 34.5 in August 2026.
Sample. There are 268 records overall in the monthly time series shown in the graph above. The series covers the time range stretching from June 2004 to September 2026.
History. Here's a peek at a few descriptive statistics calculated on the whole sample: the diffusion index hit a maximum of 52.1 in January 2022; it hit a minimum of -28.9 in January 2009; it had an average value of 22.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 20.1000 |
| 2026-08-31 | 34.5000 |
| 2026-09-30 | 18.1000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will the number of employees 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 | 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) |
Series in the same data set
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