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 survey data about NY-based manufacturers, 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, versus 0.9 in August 2025.
Sample. There are 291 records overall in the montly series shown in the chart above. The series covers the period stretching from July 2001 to September 2025.
History. Here's a glimpse of some descriptive statistics we calculated on the entire sample: the diffusion index attained a maximum of 29.8 in January 2003; it reached its lowest level of -23.6 in September 2022; it averaged 4.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | -0.9 |
| 2025-08-31 | 0.9 |
| 2025-09-30 | 2.9 |
Heads-up. To make your life easier, we organize series into data sets and worksheets. If you look below, you will discover how we arranged further material linked to the statistics found here.
Not for investment purposes. Data series and other information shared on this web site are not intended for investment purposes or as a basis for financial-decision making. Users should obtain expert advice and do their own independent due diligence before pledging money to any investment.
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.