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 18.5 in November 2025, versus 4.5 in the previous month.
Sample. There are 257 data points overall in the monthly series displayed in the plot above. The series covers the time range going from June 2004 to November 2025.
History. Have a look at a few statistics calculated on the entire sample: the diffusion index was equal on average to 18.1; it reached its maximum of 62.8 in November 2004; it hit a trough of -38.6 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 6.1 |
| 2025-10-31 | 4.5 |
| 2025-11-30 | 18.5 |
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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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