Empire State Manufacturing Survey: General business activity: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 recent survey data about manufacturing firms in the State of New York, the seasonally unadjusted diffusion index for general business activity (share of CEOs seeing a recent increase minus share reporting a decrease) was 6.9 in March 2026, versus 15.2 in the previous month.
Sample. In this monthly series, there are a total of 297 data points. The time range covered by the series is from July 2001 to March 2026.
History. Here's a peek at a few statistics we calculated on the whole sample: the diffusion index attained a maximum of 45.8 in April 2004; it reached a minimum of -73.5 in April 2020; it had an average value of 6.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-01-31 | -10.3 |
| 2026-02-28 | 15.2 |
| 2026-03-31 | 6.9 |
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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 | No |
| 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) |
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