Nonmanufacturing Business Outlook Survey: Unfilled orders: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Nonmanufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about nonmanufacturing firms collected by the Federal Reserve in Pennsylvania, New Jersey and Delaware, the seasonally adjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) was -7.1 in September 2026, compared to -12.7 in August.
Sample. This monthly series has 187 data points. The series covers the span of time extending from March 2011 to September 2026.
History. Here's a glimpse of a few simple statistics we calculated on the whole sample: the diffusion index had a mean value of 3.7; it recorded a minimum of -19.2 in April 2020; it hit a peak of 18.8 in March 2012.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 5.70000 |
| 2026-08-31 | -12.7000 |
| 2026-09-30 | -7.10000 |
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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 | 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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