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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) was 42.1 in August 2025, versus 37.2 in July 2025.
Sample. The monthly series plotted above has 255 data points overall. The series covers the time span extending from June 2004 to August 2025.
History. Have a look at a few statistics computed on the whole sample: the diffusion index was equal on average to 39.1; it registered a minimum of 0.0 in April 2020; it hit a peak of 74.0 in February 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 32.1 |
| 2025-07-31 | 37.2 |
| 2025-08-31 | 42.1 |
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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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