Empire State Manufacturing Survey: Unfilled orders: 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 manufacturing firms' responses to the Empire State Survey carried out by the New York FED, the seasonally adjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 10.8 in March 2026, compared to 9.1 in February 2026.
Sample. In this monthly time series, there are 297 observations. The time range covered by the series goes from July 2001 to March 2026.
History. Check out a few descriptive statistics we computed on the entire sample: the diffusion index reached a trough of -27.7 in December 2008; it achieved a maximum of 36.5 in September 2001; it had a mean of -4.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-01-31 | -8.2 |
| 2026-02-28 | 9.1 |
| 2026-03-31 | 10.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did unfilled orders 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.