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 survey data about manufacturers collected by the Federal Reserve in Texas, the seasonally unadjusted diffusion index for capital expenditures (share of CEOs seeing a recent increase minus share reporting a decrease) was 5.6 in October 2025, compared to 15.8 in the previous month.
Sample. There are 256 data points overall in the monthly series shown in the chart above. The series covers the time period going from June 2004 to October 2025.
History. Here’s a quick look at some simple statistics computed on the whole sample: the diffusion index was equal on average to 6.6; it attained a maximum of 33.8 in August 2004; it reached its minimum of -53.1 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | 16.3 |
| 2025-09-30 | 15.8 |
| 2025-10-31 | 5.6 |
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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) |