Texas Manufacturing Outlook Survey: New orders: 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 new orders (share of CEOs seeing a future increase minus share forecasting a decrease) was 28.6 in May 2026, compared to 31.4 in April.
Sample. In the monthly series shown in the graph, there are 264 observations. The period covered by the series extends from June 2004 to May 2026.
History. Take a look at some descriptive statistics calculated on the entire sample: the diffusion index reached its lowest level of -20.9 in March 2020; it attained a maximum of 68.0 in November 2004; it had an average value of 33.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-03-31 | 29.2 |
| 2026-04-30 | 31.4 |
| 2026-05-31 | 28.6 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will new orders 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) |
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