Fifth District Survey of Manufacturing Activity: Local business conditions: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about manufacturers collected by the Federal Reserve Bank of Richmond, the seasonally adjusted diffusion index for local business conditions (share of CEOs seeing a recent improvement minus share reporting a worsening) was 10.0 in July 2026, compared to -1.0 in June 2026.
Sample. This monthly time series has a total of 189 data points. The time range covered by the series extends from February 2010 to July 2026.
History. Here's a glimpse of some summary statistics we calculated on the full sample: the diffusion index hit a trough of -84.0 in April 2020; it achieved a maximum of 31.0 in February 2010; it had a mean of 0.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-05-31 | 0.0 |
| 2026-06-30 | -1.0 |
| 2026-07-31 | 10.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did local business conditions improve or worsen in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Richmond |
| 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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