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) stood at 21.0 in April 2026, versus 21.6 in the previous month.
Sample. There are 262 observations overall in the monthly series shown in the graph above. The series covers the period extending from June 2004 to April 2026.
History. Take a look at some descriptive statistics we computed on the full sample: the diffusion index hit a peak of 55.7 in January 2022; it recorded a bottom of -24.3 in January 2009; it was equal on average to 22.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-28 | 21.9 |
| 2026-03-31 | 21.6 |
| 2026-04-30 | 21.0 |
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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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