Average Fed Mfg Survey: New orders: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally unadjusted diffusion index for new orders stood at 16.6 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, compared to 15.6 in August.
Sample. In the monthly series plotted above, there are 268 observations overall. The series covers the span of time stretching from June 2004 to September 2026.
History. Take a look at some descriptive statistics we calculated on the full sample: the diffusion index recorded a bottom of -56.0 in April 2020; it achieved a maximum of 39.2 in April 2021; it averaged 4.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 11.8200 |
| 2026-08-31 | 15.5800 |
| 2026-09-30 | 16.6000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did new orders increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Seasonally adjusted | No |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 5 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
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