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 10.3 in January 2026, compared to 12.9 in December 2025.
Sample. In the monthly time series shown in the figure, there are a total of 295 observations. The period covered by the series is from July 2001 to January 2026.
History. Take a look at some descriptive statistics computed on the whole sample: the diffusion index reached its maximum of 29.8 in January 2003; it recorded a bottom of -23.6 in September 2022; it was equal on average to 4.7.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | 1.0 |
| 2025-12-31 | 12.9 |
| 2026-01-31 | 10.3 |
Tip. An advantage of using our web site is that we publish accurate metadata. Check it below to better understand the characteristics of the time series that you are exploring.
Not for investment purposes. Data made available on FetchSeries are not meant for investment purposes or other financial decisions. Users should obtain expert advice and perform independent analysis before taking any financial risk.
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) |
Series in the same data set
Discover the other time series included in this data set.