Empire State Manufacturing Survey: Unfilled orders: Future (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 recent survey data about manufacturing firms in the State of New York, the seasonally adjusted diffusion index for unfilled orders (share of CEOs seeing a future increase minus share forecasting a decrease) was 2.9 in September 2025, compared to 0.9 in August.
Sample. There are 291 data points overall in the montly time series presented in the chart above. The series covers the time span going from July 2001 to September 2025.
History. Here's a glimpse of some descriptive statistics we calculated on the full sample: the diffusion index reached a maximum of 29.8 in January 2003; it hit a minimum of -23.6 in September 2022; it had a mean value of 4.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | -0.9 |
| 2025-08-31 | 0.9 |
| 2025-09-30 | 2.9 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will unfilled orders increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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.