Average Fed Srv Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Srv Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve services surveys, the seasonally unadjusted diffusion index for capital expenditures stood at 10.5 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 12.7 in August.
Sample. In the monthly time series plotted above, there are 153 data points. The time range covered by the series extends from January 2014 to September 2026.
History. Here's a glimpse of a few descriptive statistics computed on the full sample: the diffusion index averaged 16.9; it registered a minimum of -34.2 in April 2020; it hit a peak of 33.1 in February 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 13.9500 |
| 2026-08-31 | 12.6500 |
| 2026-09-30 | 10.5000 |
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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 | 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 4 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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