Empire State Manufacturing Survey: New orders: Future (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 future increase minus share forecasting a decrease) was 25.8 in August 2026, versus 18.0 in July 2026.
Sample. There are 302 data points overall in the monthly series displayed in the graph above. The span of time covered by the series is from July 2001 to August 2026.
History. Here’s a quick look at a few descriptive statistics calculated on the full sample: the diffusion index averaged 34.5; it hit a peak of 73.0 in April 2002; it hit a minimum of -15.7 in September 2001.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-06-30 | 20.8 |
| 2026-07-31 | 18.0 |
| 2026-08-31 | 25.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will new orders increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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) |
Series in the same data set
Discover the other time series included in this data set.