Texas Manufacturing Outlook Survey: Wages and benefits: Current (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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for wages and benefits (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 30.3 in February 2026, versus 20.8 in January 2026.
Sample. There are 260 observations in the monthly series shown in the plot above. The series covers the period extending from June 2004 to February 2026.
History. Have a look at a few summary statistics we computed on the entire sample: the diffusion index hit a peak of 56.8 in March 2022; it reached a minimum of -7.8 in March 2009; it averaged 21.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 20.2 |
| 2026-01-31 | 20.8 |
| 2026-02-28 | 30.3 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did wages and benefits increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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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