Texas Manufacturing Outlook Survey: Capital expenditures: Current (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 recent survey data about manufacturing firms in Texas, the seasonally unadjusted diffusion index for capital expenditures (share of CEOs seeing a recent increase minus share reporting a decrease) was 9.5 in July 2026, compared to 12.5 in June.
Sample. There are 265 observations overall in the monthly time series presented in the figure above. The time range covered by the series extends from June 2004 to July 2026.
History. Here are some descriptive statistics we calculated on the whole sample: the diffusion index reached a maximum of 33.8 in August 2004; it reached a trough of -53.1 in April 2020; it averaged 6.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-05-31 | 8.1 |
| 2026-06-30 | 12.5 |
| 2026-07-31 | 9.5 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did capital expenditures increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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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