Texas Manufacturing Outlook Survey: Wages and benefits: 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 collected by the Federal Reserve in Texas, the seasonally adjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) was 40.8 in July 2026, compared to 45.8 in June 2026.
Sample. There are 266 data points overall in the monthly time series displayed in the chart above. The time range covered by the series stretches from June 2004 to July 2026.
History. Here's a glimpse of some summary statistics we computed on the whole sample: the diffusion index averaged 39.0; it recorded a maximum of 73.9 in February 2022; it hit a minimum of 0.7 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-05-31 | 37.9 |
| 2026-06-30 | 45.8 |
| 2026-07-31 | 40.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will wages and benefits 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.