Business Leaders Survey: Business climate: Current (better vs worse than usual for the time of year; diffusion index; percentage points; seasonally unadjusted) - United States - NY FED - Monthly
This series is part of the dataset: Business Leaders Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of service firms surveyd by the FED, the seasonally unadjusted diffusion index for business climate (share of CEOs reporting a better-than-usual business climate minus share reporting a worse-than-usual business climate) was -35.0 in October 2026, compared to -35.9 in September.
Sample. This monthly time series has 266 data points. The time period covered by the series extends from September 2004 to October 2026.
History. Check out some statistics we calculated on the whole sample: the diffusion index had an average value of -23.3; it reached its lowest level of -94.3 in April 2020; it recorded its highest level of 23.2 in September 2018.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-08-31 | -25.7000 |
| 2026-09-30 | -35.9000 |
| 2026-10-31 | -35.0000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: How would you rate the current business climate for this time of year? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of New York |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| Measure type | Diffusion index (share of respondents reporting a better-than-usual business climate minus share reporting a worse-than-usual business climate) |
Series in the same data set
Discover the other time series included in this data set.
Current conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |
Future conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |