Average Fed Mfg Survey: Production: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally adjusted diffusion index for production stood at 24.8 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, compared to 16.6 in August 2026.
Sample. There are 268 data points overall in the monthly time series shown in the chart above. The time span covered by the series is from June 2004 to September 2026.
History. Here's a peek at some summary statistics we computed on the full sample: the diffusion index averaged 8.2; it hit a maximum of 35.6 in May 2018; it reached its minimum of -60.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 13.5500 |
| 2026-08-31 | 16.5500 |
| 2026-09-30 | 24.7500 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did production increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 2 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
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