Empire State Manufacturing Survey: Shipments: 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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) stood at -5.9 in September 2025, versus 3.7 in the previous month.
Sample. There are 291 data points in the montly series displayed in the figure above. The time period covered by the series is from July 2001 to September 2025.
History. Here are some simple statistics we calculated on the full sample: the diffusion index was equal on average to 10.1; it recorded a minimum of -61.9 in April 2020; it attained a maximum of 54.2 in May 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 8.3 |
| 2025-08-31 | 3.7 |
| 2025-09-30 | -5.9 |
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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 | 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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