Empire State Manufacturing Survey: New orders: 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 collected by the Federal Reserve, the seasonally adjusted diffusion index for new orders (share of CEOs seeing a recent increase minus share reporting a decrease) was 3.7 in October 2025, compared to -19.6 in September.
Sample. The monthly series plotted above has a total of 292 observations. The series covers the span of time going from July 2001 to October 2025.
History. Check out some simple statistics computed on the full sample: the diffusion index had a mean value of 6.0; it recorded its highest level of 42.0 in May 2004; it recorded a minimum of -69.1 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | 15.4 |
| 2025-09-30 | -19.6 |
| 2025-10-31 | 3.7 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did new orders 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) |