Texas Manufacturing Outlook Survey: Number of employees: 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 based in Texas, the seasonally adjusted diffusion index for the number of employees (share of CEOs seeing a future increase minus share forecasting a decrease) was 16.8 in February 2026, versus 18.1 in January.
Sample. In the monthly time series plotted above, there are a total of 261 observations. The time span covered by the series goes from June 2004 to February 2026.
History. Have a look at a few simple statistics calculated on the entire sample: the diffusion index reached a trough of -28.9 in January 2009; it hit a maximum of 52.1 in January 2022; it was equal on average to 22.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 21.1 |
| 2026-01-31 | 18.1 |
| 2026-02-28 | 16.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will the number of employees 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
Discover the other time series included in this data set.