Texas Service Sector Outlook Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Dallas FED - Monthly
This series is part of the dataset: Texas Service Sector Outlook Survey (Dallas FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about service-sector firms collected by the Federal Reserve in Texas, the seasonally unadjusted diffusion index for capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 20.9 in September 2026, compared to 20.2 in the previous month.
Sample. There are 237 data points in the monthly series presented in the chart above. The span of time covered by the series stretches from January 2007 to September 2026.
History. Here's a snapshot of a few simple statistics calculated on the full sample: the diffusion index recorded a bottom of -27.5 in April 2020; it recorded its maximum of 48.4 in February 2007; it had a mean value of 22.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 22.9000 |
| 2026-08-31 | 20.2000 |
| 2026-09-30 | 20.9000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capital expenditures 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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