Texas Service Sector Outlook Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Dallas FED - Monthly
This series is part of the dataset: Texas Service Sector Outlook Survey (Dallas FED)
Download Full Dataset (.xlsx)Latest updates. Based on firms' responses to the Texas Service Sector Outlook Survey carried out by the Dallas FED, the seasonally adjusted diffusion index for capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 21.1 in September 2026, compared to 20.4 in the previous month.
Sample. There are 237 data points in the monthly time series presented in the plot above. The series covers the time range extending from January 2007 to September 2026.
History. Here's a snapshot of some descriptive statistics we calculated on the whole sample: the diffusion index reached its minimum of -27.5 in April 2020; it peaked at 48.4 in February 2007; it had a mean value of 22.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 23.9000 |
| 2026-08-31 | 20.4000 |
| 2026-09-30 | 21.1000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capital expenditures 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) |
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