Texas Manufacturing Outlook Survey: Wages and benefits: 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. Based on firms' responses to the Texas Manufacturing Outlook Survey carried out by the Dallas FED, the seasonally unadjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share reporting a decrease) stood at 43.9 in August 2026, versus 36.1 in the previous month.
Sample. This monthly time series has a total of 266 data points. The series covers the time range extending from June 2004 to August 2026.
History. Have a look at some descriptive statistics calculated on the whole sample: the diffusion index achieved a maximum of 73.6 in February 2022; it hit a trough of -2.8 in April 2020; it was equal on average to 39.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-06-30 | 42.0 |
| 2026-07-31 | 36.1 |
| 2026-08-31 | 43.9 |
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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 | 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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