The Philly Fed CAPEX Index is a component of the Philadelphia Federal Reserve's Manufacturing Business Outlook Survey. It specifically measures the diffusion index of planned capital expenditures by manufacturing firms over the next six months. A positive reading indicates that more firms expect to increase spending on equipment and physical assets than those expecting a decrease. It serves as a leading indicator of business investment and industrial health within the Mid-Atlantic region.
The index is calculated as a diffusion index: the percentage of respondents indicating an increase minus the percentage indicating a decrease in planned capital spending. The survey covers manufacturing plants in the Third Federal Reserve District.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Aug 20, 2026 | 48.20 | — | — |
| Jul 16, 2026 | 30.10 | — | — |
| Jun 18, 2026 | 41.20 | — | — |
| May 21, 2026 | 30.90 | — | — |
| Apr 16, 2026 | 35.20 | — | — |
| Jan 15, 2026 | 30.30 | — | — |
| Dec 18, 2025 | 30.30 | — | — |
| Nov 20, 2025 | 26.70 | — | — |
| Oct 16, 2025 | 25.20 | — | — |
| Sep 18, 2025 | 12.50 | — | — |
| Aug 21, 2025 | 38.40 | — | — |
| Jul 17, 2025 | 17.10 | — | — |
| Jun 20, 2025 | 14.50 | — | — |
| May 15, 2025 | 27.00 | — | — |
| Apr 17, 2025 | 2.00 | — | — |
| Mar 20, 2025 | 13.40 | — | — |
| Feb 20, 2025 | 14.00 | — | — |
| Jan 16, 2025 | 39.00 | — | — |
| Dec 19, 2024 | 18.80 | — | — |
| Nov 21, 2024 | 24.90 | — | — |
| Oct 17, 2024 | 23.50 | — | — |
| Sep 19, 2024 | 25.00 | — | — |
| Aug 15, 2024 | 12.00 | — | — |
| Jul 18, 2024 | 7.40 | — | — |
| Jun 20, 2024 | 12.10 | — | — |
| May 16, 2024 | 20.10 | — | — |
| Apr 18, 2024 | 20.00 | — | — |
| Mar 21, 2024 | 23.60 | — | — |
| Feb 15, 2024 | 12.70 | — | — |
| Jan 18, 2024 | 7.50 | — | — |
| Dec 21, 2023 | -7.50 | — | — |
| Nov 16, 2023 | -1.30 | — | — |
| Oct 19, 2023 | -4.80 | — | — |
| Sep 21, 2023 | 7.50 | — | — |
| Aug 17, 2023 | -4.50 | 9.20 | -13.70 |
| Jul 20, 2023 | 8.60 | 6.20 | +2.40 |
| Jun 15, 2023 | 9.90 | -1.40 | +11.30 |
| May 18, 2023 | 2.50 | 2.30 | +0.20 |
| Apr 20, 2023 | -5.40 | 8.30 | -13.70 |
| Mar 16, 2023 | -3.80 | 8.00 | -11.80 |
| Feb 16, 2023 | 7.50 | 10.70 | -3.20 |
| Jan 19, 2023 | 10.50 | 15.00 | -4.50 |
| Dec 15, 2022 | 18.00 | 6.50 | +11.50 |
| Nov 17, 2022 | 6.40 | 4.10 | +2.30 |
| Oct 20, 2022 | 4.40 | 4.10 | +0.30 |
| Sep 15, 2022 | 4.60 | 20.00 | -15.40 |
| Aug 18, 2022 | 18.00 | 4.00 | +14.00 |
| Jul 21, 2022 | 4.40 | 10.00 | -5.60 |
| Jun 16, 2022 | 11.70 | 9.00 | +2.70 |
| May 19, 2022 | 9.60 | 19.00 | -9.40 |
