Texas Manufacturing Outlook Survey: General business activity: Current (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 firms' responses to the Texas Manufacturing Outlook Survey carried out by the Dallas FED, the seasonally unadjusted diffusion index for general business activity (share of CEOs seeing a recent increase minus share reporting a decrease) stood at -16.0 in November 2025, compared to -11.1 in the previous month.
Sample. There are 257 records in the monthly time series shown in the plot above. The series covers the span of time stretching from June 2004 to November 2025.
History. Here's a glimpse of some simple statistics calculated on the entire sample: the diffusion index peaked at 48.7 in June 2004; it reached a minimum of -68.5 in April 2020; it was equal on average to 0.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | -12.7 |
| 2025-10-31 | -11.1 |
| 2025-11-30 | -16.0 |
Nugget of wisdom. To simplify complex analyses, we group time series into worksheets and datasets. By moving down the page, you will find how we structured further material related to the statistics published here.
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did general business activity increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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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