Empire State Manufacturing Survey: Unfilled 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 manufacturing firms' responses to the Empire State Survey carried out by the New York FED, the seasonally adjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) was -6.9 in September 2025, versus -5.5 in August.
Sample. In this montly time series, there are 291 observations. The time range covered by the series goes from July 2001 to September 2025.
History. Here are some summary statistics calculated on the full sample: the diffusion index peaked at 36.5 in September 2001; it reached its minimum of -27.7 in December 2008; it had a mean value of -4.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | -6.4 |
| 2025-08-31 | -5.5 |
| 2025-09-30 | -6.9 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did unfilled 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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