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 survey data about NY-based manufacturers collected by the Federal Reserve, the seasonally unadjusted diffusion index for general business activity (share of CEOs seeing a recent increase minus share reporting a decrease) was 14.4 in August 2026, compared to 15.0 in July.
Sample. This monthly series has 302 observations. The series covers the time period stretching from July 2001 to August 2026.
History. Check out a few simple statistics we computed on the whole sample: the diffusion index averaged 6.3; it hit a maximum of 45.8 in April 2004; it recorded a minimum of -73.5 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-06-30 | 11.9 |
| 2026-07-31 | 15.0 |
| 2026-08-31 | 14.4 |
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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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