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 recent survey data about manufacturing firms in Texas, the seasonally adjusted diffusion index for new orders (share of CEOs seeing a future increase minus share forecasting a decrease) was 39.2 in November 2025, compared to 18.3 in October.
Sample. There are 258 observations overall in the monthly series shown in the chart above. The span of time covered by the series goes from June 2004 to November 2025.
History. Here's a snapshot of some statistics we calculated on the entire sample: the diffusion index had a mean value of 33.5; it recorded a maximum of 68.6 in November 2004; it hit a trough of -21.2 in March 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 34.3 |
| 2025-10-31 | 18.3 |
| 2025-11-30 | 39.2 |
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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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