Texas Manufacturing Outlook Survey: Inventories: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 adjusted diffusion index for inventories (share of CEOs seeing a future increase minus share forecasting a decrease) was 11.7 in January 2026, compared to 4.2 in December 2025.
Sample. In this monthly time series, there are 260 observations in total. The time span covered by the series goes from June 2004 to January 2026.
History. Here's a glimpse of some descriptive statistics computed on the full sample: the diffusion index had a mean of -0.2; it hit a peak of 24.5 in June 2021; it registered a minimum of -25.8 in October 2008.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | -1.5 |
| 2025-12-31 | 4.2 |
| 2026-01-31 | 11.7 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will finished goods inventories 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 | Yes |
| 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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