Texas Manufacturing Outlook Survey: Number of employees: 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. According to survey data about manufacturers collected by the Federal Reserve in Texas, the seasonally unadjusted diffusion index for the number of employees (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 22.4 in August 2025, compared to 23.0 in July.
Sample. The monthly series plotted above has a total of 254 records. The series covers the period extending from June 2004 to August 2025.
History. Here are a few statistics calculated on the entire sample: the diffusion index was equal on average to 22.7; it attained a maximum of 55.7 in January 2022; it reached its lowest level of -24.3 in January 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 11.7 |
| 2025-07-31 | 23.0 |
| 2025-08-31 | 22.4 |
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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 | 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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