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) stood at 37.5 in February 2026, compared to 31.2 in January 2026.
Sample. There are 260 records in the monthly series presented in the graph above. The series covers the time period going from June 2004 to February 2026.
History. Here's a glimpse of some statistics we calculated on the whole sample: the diffusion index had a mean of 32.8; it reached a minimum of -12.8 in April 2020; it achieved a maximum of 65.7 in September 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 36.6 |
| 2026-01-31 | 31.2 |
| 2026-02-28 | 37.5 |
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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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