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 recent survey data about manufacturing firms in Texas, the seasonally adjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) was 39.1 in November 2025, compared to 41.5 in October 2025.
Sample. In the monthly time series displayed in the plot, there are 258 records in total. The series covers the span of time stretching from June 2004 to November 2025.
History. Have a look at some descriptive statistics we calculated on the whole sample: the diffusion index averaged 39.0; it hit a maximum of 74.0 in February 2022; it registered a minimum of 0.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 28.4 |
| 2025-10-31 | 41.5 |
| 2025-11-30 | 39.1 |
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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.