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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) was 3.7 in August 2025, compared to 8.3 in July.
Sample. There are 290 records overall in the montly series displayed in the plot above. The time range covered by the series stretches from July 2001 to August 2025.
History. Here's a glimpse of some statistics calculated on the entire sample: the diffusion index had an average value of 10.2; it recorded a maximum of 54.2 in May 2004; it recorded a minimum of -61.9 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 0.9 |
| 2025-07-31 | 8.3 |
| 2025-08-31 | 3.7 |
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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 | 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) |