Fifth District Survey of Non-Manufacturing Activity: Revenues: 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 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 adjusted diffusion index for revenues (share of CEOs seeing a future increase minus share forecasting a decrease) was 31.0 in September 2026, compared to 38.0 in August.
Sample. There are 190 data points overall in the monthly series displayed in the figure above. The series covers the time span going from December 2010 to September 2026.
History. Have a look at some summary statistics we calculated on the whole sample: the diffusion index recorded its maximum of 59.0 in September 2018; it hit a trough of -52.0 in April 2020; it had a mean of 28.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 37.0000 |
| 2026-08-31 | 38.0000 |
| 2026-09-30 | 31.0000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will revenues 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) |
| Other information | Not available |
Series in the same data set
Discover the other time series included in this data set.