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 6.6 in January 2026, versus -1.0 in December 2025.
Sample. There are 295 records overall in the monthly time series displayed in the figure above. The series covers the span of time stretching from July 2001 to January 2026.
History. Take a look at a few simple statistics we calculated on the entire sample: the diffusion index hit a trough of -68.8 in April 2020; it recorded a maximum of 42.0 in May 2004; it had an average value of 6.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | 9.6 |
| 2025-12-31 | -1.0 |
| 2026-01-31 | 6.6 |
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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) |
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