Empire State Manufacturing Survey: Shipments: 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. According to recent survey data about manufacturing firms in the State of New York, the seasonally unadjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) stood at -26.7 in December 2025, versus 16.3 in the previous month.
Sample. There are 294 data points overall in the monthly time series displayed in the chart above. The time span covered by the series is from July 2001 to December 2025.
History. Here’s a quick look at a few summary statistics we calculated on the entire sample: the diffusion index was equal on average to 10.0; it reached its highest level of 54.2 in May 2004; it reached a minimum of -61.9 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-10-31 | 9.7 |
| 2025-11-30 | 16.3 |
| 2025-12-31 | -26.7 |
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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 | 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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