Empire State Manufacturing Survey: New orders: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly
This series is part of the dataset: Empire State Manufacturing Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for new orders (share of CEOs seeing a recent increase minus share reporting a decrease) was -19.6 in September 2025, compared to 15.4 in August 2025.
Sample. There are 291 observations overall in the montly time series shown in the figure above. The span of time covered by the series extends from July 2001 to September 2025.
History. Take a look at some statistics computed on the entire sample: the diffusion index had a mean of 6.0; it reached a minimum of -69.1 in April 2020; it peaked at 42.0 in May 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 2.0 |
| 2025-08-31 | 15.4 |
| 2025-09-30 | -19.6 |
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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 |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Montly |
| 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 an increase minus share reporting a decrease) |
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