Average Fed Mfg Survey: Shipments: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally adjusted diffusion index for shipments stood at 38.6 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 41.1 in August.
Sample. This monthly series has 268 records overall. The series covers the time span stretching from June 2004 to September 2026.
History. Here's a peek at some summary statistics we calculated on the full sample: the diffusion index averaged 31.1; it reached its minimum of -2.8 in March 2020; it hit a maximum of 55.2 in June 2021.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 34.0400 |
| 2026-08-31 | 41.0800 |
| 2026-09-30 | 38.5600 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will shipments 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 | Yes |
| 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 | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 5 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
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