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 survey data about NY-based manufacturers collected by the Federal Reserve, the seasonally unadjusted diffusion index for unfilled orders (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 7.1 in April 2026, compared to 14.7 in March 2026.
Sample. This monthly series has a total of 298 data points. The series covers the time span going from July 2001 to April 2026.
History. Here's a snapshot of some descriptive statistics computed on the entire sample: the diffusion index was equal on average to 4.8; it reached its minimum of -23.6 in September 2022; it peaked at 29.8 in January 2003.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-28 | 18.2 |
| 2026-03-31 | 14.7 |
| 2026-04-30 | 7.1 |
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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) |
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