Fifth District Survey of Manufacturing Activity: Shipments: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) was -13.0 in September 2025, compared to -9.0 in August.
Sample. There are 290 records in the monthly series presented in the graph above. The series covers the span of time stretching from January 1993 to September 2025.
History. Here's a glimpse of some simple statistics computed on the entire sample: the diffusion index was equal on average to 3.9; it reached a trough of -44.0 in February 2008; it recorded its maximum of 46.0 in March 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | -17.0 |
| 2025-08-31 | -9.0 |
| 2025-09-30 | -13.0 |
Tip. We categorize series into worksheets and datasets to simplify complex analyses. Scrolling downwards, you will find how we arranged further material linked to the statistics published here.
Not for investment purposes. Time series and other data disseminated on this web site are not suitable for investment purposes or as a basis for making financial decisions. Users should obtain expert advice and perform independent analysis before pledging money to any investment.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did shipments increase or decrease 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 | No |
| 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) |