Manufacturing Business Outlook Survey: New orders: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Manufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Third Federal Reserve District, the seasonally unadjusted diffusion index for new orders (share of CEOs seeing a future increase minus share forecasting a decrease) was 60.0 in September 2026, compared to 54.2 in the previous month.
Sample. There are 701 records in the monthly time series presented in the chart above. The series covers the time period stretching from May 1968 to September 2026.
History. Check out some statistics computed on the full sample: the diffusion index reached a minimum of -42.6 in December 1973; it attained a maximum of 85.0 in April 1983; it had a mean of 35.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 24.1000 |
| 2026-08-31 | 54.2000 |
| 2026-09-30 | 60.0000 |
Hint. We organize indicators into data sets and worksheets to simplify exploration. Scrolling downwards, you will discover how we structured further material linked to the statistics found here.
Not for investment purposes. Time series and other data published on FetchSeries are not suitable for investment purposes or as a basis for making financial decisions. Users should obtain expert advice and perform independent analysis before making any financial commitments.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will new 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 | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Philadelphia |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| 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.