Empire State Manufacturing Survey: Unfilled orders: 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 survey data about NY-based manufacturers collected by the Federal Reserve, the seasonally unadjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) was -8.2 in January 2026, versus -14.9 in December 2025.
Sample. There are 295 data points overall in the monthly time series shown in the chart above. The period covered by the series stretches from July 2001 to January 2026.
History. Here are a few summary statistics calculated on the entire sample: the diffusion index was equal on average to -4.7; it hit a peak of 36.5 in September 2001; it recorded a bottom of -27.7 in December 2008.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | -5.8 |
| 2025-12-31 | -14.9 |
| 2026-01-31 | -8.2 |
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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 | 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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