Texas Manufacturing Outlook Survey: Wages and benefits: 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 based in Texas, the seasonally unadjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) was 38.7 in August 2025, versus 32.0 in July 2025.
Sample. In this monthly time series, there are a total of 254 records. The series covers the time span stretching from June 2004 to August 2025.
History. Here are some summary statistics computed on the whole sample: the diffusion index recorded its maximum of 73.6 in February 2022; it recorded a bottom of -2.8 in April 2020; it averaged 39.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 27.3 |
| 2025-07-31 | 32.0 |
| 2025-08-31 | 38.7 |
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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 | 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) |
Series in the same data set
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