Texas Manufacturing Outlook Survey: Capacity utilization: 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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for capacity utilization (share of CEOs seeing a future increase minus share reporting a decrease) was 33.9 in November 2025, versus 13.3 in October 2025.
Sample. In the monthly time series presented in the plot, there are 257 data points. The series covers the time period stretching from June 2004 to November 2025.
History. Here are a few descriptive statistics we calculated on the entire sample: the diffusion index reached a maximum of 65.7 in September 2004; it hit a minimum of -12.8 in April 2020; it had a mean value of 32.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 19.4 |
| 2025-10-31 | 13.3 |
| 2025-11-30 | 33.9 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capacity utilization 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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