Average Fed Srv Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Srv Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve services surveys, the seasonally adjusted diffusion index for capital expenditures was 13.7 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 17.1 in August.
Sample. There are 153 observations overall in the monthly time series displayed in the figure above. The time span covered by the series stretches from January 2014 to September 2026.
History. Have a look at some summary statistics we computed on the whole sample: the diffusion index had a mean of 17.8; it hit a peak of 33.0 in July 2021; it reached a trough of -30.8 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 18.9667 |
| 2026-08-31 | 17.1333 |
| 2026-09-30 | 13.7000 |
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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 |
| 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 3 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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