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. According to survey data about NY-based manufacturers, the seasonally adjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) was 16.3 in January 2026, versus -5.0 in December 2025.
Sample. There are 295 data points in the monthly time series presented in the graph above. The series covers the time span extending from July 2001 to January 2026.
History. Here's a snapshot of a few simple statistics computed on the entire sample: the diffusion index recorded a bottom of -70.9 in April 2020; it reached a maximum of 49.6 in April 2004; it had an average value of 10.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | 11.5 |
| 2025-12-31 | -5.0 |
| 2026-01-31 | 16.3 |
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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) |
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