Kansas City Fed Services 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 Services Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about services firms in the Tenth Federal Reserve District, the seasonally unadjusted diffusion index for capital expenditures (share of CEOs seeing a future increase minus share forecasting a decrease) was 14.0 in September 2026, unchanged with respect to August 2026.
Sample. There are 153 records in the monthly series shown in the plot above. The span of time covered by the series goes from January 2014 to September 2026.
History. Here are a few simple statistics calculated on the entire sample: the diffusion index peaked at 35.0 in May 2019; it registered a minimum of -32.0 in April 2020; it had an average value of 13.9.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 21.0000 |
| 2026-08-31 | 14.0000 |
| 2026-09-30 | 14.0000 |
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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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