Texas Manufacturing Outlook Survey: Capital expenditures: 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 capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) was 20.9 in April 2026, compared to 24.7 in March 2026.
Sample. In this monthly series, there are 262 observations overall. The time span covered by the series goes from June 2004 to April 2026.
History. Have a look at a few summary statistics calculated on the whole sample: the diffusion index reached its lowest level of -27.7 in January 2009; it reached a maximum of 49.2 in January 2005; it was equal on average to 19.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-28 | 15.1 |
| 2026-03-31 | 24.7 |
| 2026-04-30 | 20.9 |
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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 | 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) |
Series in the same data set
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