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 22.3 in November 2025, compared to 18.9 in October 2025.
Sample. This monthly series has 258 observations overall. The series covers the span of time stretching from June 2004 to November 2025.
History. Here's a peek at some summary statistics we computed on the full sample: the diffusion index registered a minimum of -28.8 in January 2009; it recorded its maximum of 52.1 in January 2022; it had a mean value of 22.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 12.7 |
| 2025-10-31 | 18.9 |
| 2025-11-30 | 22.3 |
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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
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