Average Fed Mfg Survey: New orders: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally adjusted diffusion index for new orders stood at 16.0 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, versus 17.7 in August 2026.
Sample. There are 268 data points overall in the monthly time series presented in the chart above. The series covers the period going from June 2004 to September 2026.
History. Here's a peek at a few summary statistics calculated on the entire sample: the diffusion index reached its highest level of 29.1 in April 2021; it recorded a minimum of -66.3 in April 2020; it had a mean of 4.5.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 16.1200 |
| 2026-08-31 | 17.6800 |
| 2026-09-30 | 15.9800 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did new orders increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Seasonally adjusted | Yes |
| 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 | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 5 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
Series in the same data set
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