Fifth District Survey of Non-Manufacturing Activity: Equipment and software expenditures: 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. According to survey data about nonmanufacturing firms based in the Fifth District, the seasonally unadjusted diffusion index for equipment and software expenditures (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 1.0 in September 2026, compared to 4.0 in August 2026.
Sample. There are 190 records in the monthly time series shown in the chart above. The series covers the span of time stretching from December 2010 to September 2026.
History. Here's a glimpse of a few simple statistics we computed on the entire sample: the diffusion index was equal on average to 12.3; it reached its minimum of -15.0 in April 2020; it reached its maximum of 33.0 in June 2018.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 5.00000 |
| 2026-08-31 | 4.00000 |
| 2026-09-30 | 1.00000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did equipment and software expenditures 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.