Empire State Manufacturing Survey: Shipments: 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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) was -6.9 in March 2026, versus -1.0 in February 2026.
Sample. In the monthly time series shown in the figure, there are a total of 297 data points. The period covered by the series goes from July 2001 to March 2026.
History. Check out some simple statistics computed on the full sample: the diffusion index had a mean of 10.2; it attained a maximum of 49.6 in April 2004; it hit a minimum of -70.9 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-01-31 | 16.3 |
| 2026-02-28 | -1.0 |
| 2026-03-31 | -6.9 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did shipments 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) |
Series in the same data set
Discover the other time series included in this data set.