Average Fed Mfg Survey: Unfilled orders: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 adjusted diffusion index for unfilled orders was 8.5 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 11.9 in August.
Sample. The monthly time series displayed in the plot has a total of 268 data points. The period covered by the series is from June 2004 to September 2026.
History. Here's a glimpse of some statistics computed on the entire sample: the diffusion index had a mean of 6.0; it recorded a maximum of 22.7 in January 2017; it reached its minimum of -18.1 in June 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 8.32000 |
| 2026-08-31 | 11.8800 |
| 2026-09-30 | 8.50000 |
Heads-up. Our metadata often contain links to the sources of the time-series data shown on FetchSeries. You can use these links to search for additional information needed in your analyses.
Not for investment purposes. Time series and other data hosted on FetchSeries are not intended for investment purposes or as a basis for financial-decision making. Users should ask for professional advice and do their own independent due diligence before pledging money to any investment.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will unfilled orders increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | Yes |
| 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 |
Series in the same data set
Discover the other time series included in this data set.