Kansas City Fed Manufacturing Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Manufacturing Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Tenth Federal Reserve District, the seasonally unadjusted diffusion index for capital expenditures stood at 14.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in February 2026, compared to 6.0 in January.
Sample. There are 296 observations in the monthly time series displayed in the chart above. The series covers the time range stretching from July 2001 to February 2026.
History. Here are a few simple statistics we calculated on the entire sample: the diffusion index averaged 12.5; it peaked at 38.0 in December 2018; it reached its minimum of -41.0 in March 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-31 | 12.0 |
| 2026-01-31 | 6.0 |
| 2026-02-28 | 14.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capital expenditures increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | No |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Capital expenditures |
| FSR temporal aggregation code | LM01 |
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