Texas Manufacturing Outlook Survey: Wages and benefits: 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 wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) was 48.3 in September 2026, versus 46.9 in the previous month.
Sample. There are 268 observations in the monthly time series displayed in the plot above. The series covers the time span going from June 2004 to September 2026.
History. Here's a snapshot of some simple statistics calculated on the entire sample: the diffusion index had an average value of 39.1; it reached its highest level of 73.9 in February 2022; it recorded a bottom of 0.7 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 40.8000 |
| 2026-08-31 | 46.9000 |
| 2026-09-30 | 48.3000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will wages and benefits 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) |
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