Manufacturing Business Outlook Survey: Unfilled orders: Current (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 unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 12.0 in September 2026, compared to 12.5 in August 2026.
Sample. In the monthly time series displayed in the figure, there are 701 data points in total. The time range covered by the series goes from May 1968 to September 2026.
History. Take a look at a few simple statistics computed on the full sample: the diffusion index reached a minimum of -74.0 in December 1974; it recorded a maximum of 54.0 in March 1973; it was equal on average to -4.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 13.8000 |
| 2026-08-31 | 12.5000 |
| 2026-09-30 | 12.0000 |
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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 | 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) |
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