Business Leaders Survey: Capital spending: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - NY FED - Monthly
This series is part of the dataset: Business Leaders Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about service firms in the Second Federal Reserve District, the seasonally unadjusted diffusion index for capital spending (share of CEOs seeing a recent increase minus share reporting a decrease) was -4.2 in October 2026, compared to -2.2 in September 2026.
Sample. There are 161 records in the monthly series displayed in the figure above. The series covers the period extending from June 2013 to October 2026.
History. Here's a peek at some statistics calculated on the full sample: the diffusion index reached a minimum of -47.7 in May 2020; it hit a peak of 25.2 in January 2016; it was equal on average to 5.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-08-31 | 2.00000 |
| 2026-09-30 | -2.20000 |
| 2026-10-31 | -4.20000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Over the past three months did capital investment spending increase or decrease? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of New York |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| 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.
Current conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |
Future conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |