Fifth District Survey of Non-Manufacturing Activity: Demand: 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 Non-Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about nonmanufacturing firms based in the Fifth District, the seasonally unadjusted diffusion index for demand (share of CEOs seeing a recent increase minus share reporting a decrease) was 2.0 in September 2026, compared to 1.0 in August 2026.
Sample. In the monthly time series presented in the figure, there are a total of 190 observations. The series covers the time range stretching from December 2010 to September 2026.
History. Take a look at a few descriptive statistics calculated on the full sample: the diffusion index averaged 12.3; it reached a maximum of 46.0 in May 2021; it hit a minimum of -59.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 6.00000 |
| 2026-08-31 | 1.00000 |
| 2026-09-30 | 2.00000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did demand 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) |
| Other information | Not available |
Series in the same data set
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