Texas Manufacturing Outlook Survey: General business activity: 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 general business activity (share of CEOs seeing a future increase minus share forecasting a decrease) was 15.8 in May 2026, versus 17.5 in the previous month.
Sample. In this monthly series, there are 263 data points. The series covers the time period going from June 2004 to May 2026.
History. Here's a snapshot of a few descriptive statistics computed on the entire sample: the diffusion index attained a maximum of 55.2 in December 2004; it reached its lowest level of -47.0 in November 2008; it had a mean value of 12.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-03-31 | 13.3 |
| 2026-04-30 | 17.5 |
| 2026-05-31 | 15.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will general business activity 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) |
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