Empire State Manufacturing Survey: New orders: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - NY FED - Monthly
This series is part of the dataset: Empire State Manufacturing Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the State of New York, the seasonally unadjusted diffusion index for new orders (share of CEOs seeing a recent increase minus share reporting a decrease) stood at -9.8 in September 2025, versus 7.3 in the previous month.
Sample. There are 291 observations overall in the montly time series shown in the chart above. The series covers the time period stretching from July 2001 to September 2025.
History. Take a look at a few simple statistics we calculated on the full sample: the diffusion index was equal on average to 5.9; it reached its highest level of 48.3 in May 2004; it reached its lowest level of -60.6 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | -2.8 |
| 2025-08-31 | 7.3 |
| 2025-09-30 | -9.8 |
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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 | No |
| 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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