Texas Manufacturing Outlook Survey: Company outlook: Future (improvement vs worsening; 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 company outlook (share of CEOs seeing a future improvement minus share reporting a worsening) was 31.4 in February 2026, versus 27.3 in January 2026.
Sample. There are 260 observations overall in the monthly time series displayed in the graph above. The period covered by the series stretches from June 2004 to February 2026.
History. Take a look at a few statistics calculated on the entire sample: the diffusion index averaged 18.2; it reached its lowest level of -38.6 in April 2020; it recorded a maximum of 62.8 in November 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 22.5 |
| 2026-01-31 | 27.3 |
| 2026-02-28 | 31.4 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will the outlook of your company improve or worsen 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) |
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