Texas Manufacturing Outlook Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 based in Texas, the seasonally adjusted diffusion index for capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 10.7 in February 2026, compared to 22.0 in January.
Sample. In the monthly series presented in the chart, there are 261 records. The time range covered by the series stretches from June 2004 to February 2026.
History. Check out some simple statistics we calculated on the whole sample: the diffusion index reached a trough of -30.3 in January 2009; it recorded its highest level of 48.5 in October 2004; it had a mean value of 19.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 17.8 |
| 2026-01-31 | 22.0 |
| 2026-02-28 | 10.7 |
Tip. Our metadata often contain references to the sources of the data we provide. You can use these references to find more details.
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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 | Yes |
| 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) |
Series in the same data set
Discover the other time series included in this data set.