Empire State Manufacturing Survey: Unfilled orders: Future (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 unfilled orders (share of CEOs seeing a future increase minus share forecasting a decrease) was 5.8 in October 2025, compared to 2.9 in September 2025.
Sample. There are 292 observations in the monthly series displayed in the graph above. The series covers the time range stretching from July 2001 to October 2025.
History. Check out some descriptive statistics we computed on the whole sample: the diffusion index had a mean of 4.7; it recorded its highest level of 29.8 in January 2003; it recorded a minimum of -23.6 in September 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | 0.9 |
| 2025-09-30 | 2.9 |
| 2025-10-31 | 5.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will unfilled orders increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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) |