Manufacturing Business Outlook Survey: Prices received: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 adjusted diffusion index for prices received (share of CEOs seeing a future increase minus share forecasting a decrease) was 72.3 in September 2026, versus 59.8 in August.
Sample. There are 701 data points overall in the monthly time series displayed in the chart above. The time range covered by the series is from May 1968 to September 2026.
History. Take a look at some simple statistics we calculated on the full sample: the diffusion index reached its lowest level of -21.1 in March 2009; it recorded its maximum of 83.9 in February 1977; it had an average value of 35.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 41.4000 |
| 2026-08-31 | 59.8000 |
| 2026-09-30 | 72.3000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will prices received 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 | 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) |
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