Fifth District Survey of Non-Manufacturing Activity: Revenues: Future (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 collected by the Federal Reserve Bank of Richmond, the seasonally unadjusted diffusion index for revenues (share of CEOs seeing a future increase minus share forecasting a decrease) was 29.0 in September 2026, versus 34.0 in August 2026.
Sample. In the monthly series displayed in the chart, there are 190 observations overall. The time span covered by the series extends from December 2010 to September 2026.
History. Here's a peek at some summary statistics we calculated on the full sample: the diffusion index had an average value of 28.4; it reached a maximum of 60.0 in May 2021; it reached its minimum of -43.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 33.0000 |
| 2026-08-31 | 34.0000 |
| 2026-09-30 | 29.0000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will revenues increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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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