Fifth District Survey of Manufacturing Activity: Capacity utilization: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for capacity utilization (share of CEOs seeing a future increase minus share reporting a decrease) was -10.0 in September 2025, compared to 3.0 in August 2025.
Sample. In this monthly time series, there are a total of 259 observations. The period covered by the series goes from January 1997 to September 2025.
History. Here's a snapshot of a few descriptive statistics we calculated on the whole sample: the diffusion index had a mean of 22.7; it hit a trough of -11.0 in April 2020; it hit a peak of 52.0 in June 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 9.0 |
| 2025-08-31 | 3.0 |
| 2025-09-30 | -10.0 |
Suggestion. One of the pros of our data visualization and download service is that we give you complete metadata. Check it below to gain insights on the characteristics of the time series that you use in your research.
Not for investment purposes. Information available on this web site is not not supposed to be used for investment purposes or as a basis for financial-decision making. Users should obtain professional advice and do independent analysis before making any financial commitments.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will capacity utilization 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 | Yes |
| 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) |
Series in the same data set
Discover the other time series included in this data set.