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 recent survey data about manufacturing firms in Texas, the seasonally adjusted diffusion index for capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 21.6 in April 2026, versus 24.8 in the previous month.
Sample. There are 263 records in the monthly series presented in the graph above. The series covers the span of time going from June 2004 to April 2026.
History. Have a look at some descriptive statistics calculated on the full sample: the diffusion index had a mean of 19.4; it achieved a maximum of 48.5 in October 2004; it reached a minimum of -30.3 in January 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-28 | 10.7 |
| 2026-03-31 | 24.8 |
| 2026-04-30 | 21.6 |
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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) |
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