Average Fed Mfg Survey: Unfilled 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 unfilled orders stood at 7.3 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, versus 3.6 in August.
Sample. There are 268 observations overall in the monthly series presented in the chart above. The series covers the time range extending from June 2004 to September 2026.
History. Here's a glimpse of a few summary statistics computed on the full sample: the diffusion index reached a maximum of 29.6 in May 2021; it recorded a minimum of -39.5 in December 2008; it was equal on average to -3.8.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 4.32000 |
| 2026-08-31 | 3.62000 |
| 2026-09-30 | 7.32000 |
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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 |
| 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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