Empire State Manufacturing Survey: General business activity: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly
This series is part of the dataset: Empire State Manufacturing Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about NY-based manufacturers, the seasonally adjusted diffusion index for general business activity (share of CEOs seeing a recent increase minus share reporting a decrease) was 5.7 in June 2026, compared to 19.6 in May.
Sample. There are 300 data points in the monthly time series shown in the figure above. The period covered by the series stretches from July 2001 to June 2026.
History. Check out a few descriptive statistics we calculated on the entire sample: the diffusion index peaked at 39.0 in April 2004; it reached its lowest level of -80.0 in April 2020; it averaged 6.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-04-30 | 11.0 |
| 2026-05-31 | 19.6 |
| 2026-06-30 | 5.7 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did general business activity 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 New York |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
Series in the same data set
Discover the other time series included in this data set.