Empire State Manufacturing Survey: New orders: 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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for new orders (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 12.7 in March 2026, compared to 14.1 in February 2026.
Sample. There are 297 records in the monthly series shown in the figure above. The period covered by the series goes from July 2001 to March 2026.
History. Here are a few statistics we calculated on the full sample: the diffusion index recorded a minimum of -60.6 in April 2020; it recorded its maximum of 48.3 in May 2004; it had a mean value of 5.8.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-01-31 | -14.4 |
| 2026-02-28 | 14.1 |
| 2026-03-31 | 12.7 |
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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 | 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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