Fifth District Survey of Non-Manufacturing Activity: Demand: Current (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. Based on firms' responses to the Fifth District Survey of Non-Manufacturing Activity carried out by the Richmond FED, the seasonally unadjusted diffusion index for demand (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 2.0 in September 2026, compared to 1.0 in August 2026.
Sample. There are 190 records overall in the monthly series shown in the graph above. The series covers the time span going from December 2010 to September 2026.
History. Here's a peek at a few simple statistics computed on the whole sample: the diffusion index averaged 12.3; it hit a maximum of 46.0 in May 2021; it registered a minimum of -59.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 6.00000 |
| 2026-08-31 | 1.00000 |
| 2026-09-30 | 2.00000 |
Nugget of wisdom. One of the pluses of our data visualization and download service is that we provide rich metadata. Check them below to gain insights on the properties of the time series that you analyze.
Not for investment purposes. Data released on FetchSeries are not supposed to be used for investment purposes or as a basis for financial-decision making. Users should seek professional advice and do their own independent due diligence before making any financial commitments.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did demand increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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
Discover the other time series included in this data set.