Empire State Manufacturing Survey: Shipments: 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. According to survey data about NY-based manufacturers, the seasonally adjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) was -17.3 in September 2025, compared to 12.2 in August.
Sample. There are 291 observations in the montly time series displayed in the figure above. The series covers the span of time stretching from July 2001 to September 2025.
History. Here’s a quick look at some simple statistics calculated on the entire sample: the diffusion index hit a trough of -70.9 in April 2020; it hit a peak of 49.6 in April 2004; it had an average value of 10.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 11.5 |
| 2025-08-31 | 12.2 |
| 2025-09-30 | -17.3 |
Nugget of wisdom. For easier exploration, we group time series into data sets and worksheets. If you look below, you will find how we structured further information related to the statistics published here.
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did shipments 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) |
Series in the same data set
Discover the other time series included in this data set.