Kansas City Fed Manufacturing Survey: Capital expenditures: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Manufacturing Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Tenth Federal Reserve District, the seasonally unadjusted diffusion index for capital expenditures was 12.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in December 2025, versus 0.0 in November.
Sample. The monthly time series plotted above has 294 data points overall. The period covered by the series is from July 2001 to December 2025.
History. Here's a glimpse of a few statistics calculated on the full sample: the diffusion index recorded its highest level of 38.0 in December 2018; it reached its minimum of -41.0 in March 2020; it was equal on average to 12.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-10-31 | 2.0 |
| 2025-11-30 | 0.0 |
| 2025-12-31 | 12.0 |
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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 | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Capital expenditures |
| FSR temporal aggregation code | LM01 |
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