Texas Manufacturing Outlook Survey: Number of employees: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for the number of employees (share of CEOs seeing a future increase minus share forecasting a decrease) was 22.1 in January 2026, versus 25.7 in December 2025.
Sample. There are 259 data points in the monthly series presented in the graph above. The time period covered by the series is from June 2004 to January 2026.
History. Here's a peek at some summary statistics calculated on the full sample: the diffusion index had an average value of 22.7; it achieved a maximum of 55.7 in January 2022; it registered a minimum of -24.3 in January 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | 26.9 |
| 2025-12-31 | 25.7 |
| 2026-01-31 | 22.1 |
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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 | No |
| 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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