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) was 7.3 in August 2025, compared to -2.8 in July.
Sample. There are 290 records in the montly time series presented in the chart above. The series covers the time period going from July 2001 to August 2025.
History. Take a look at some descriptive statistics computed on the entire sample: the diffusion index reached its lowest level of -60.6 in April 2020; it reached its maximum of 48.3 in May 2004; it had a mean of 6.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | -5.5 |
| 2025-07-31 | -2.8 |
| 2025-08-31 | 7.3 |
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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 | Montly |
| 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) |