Fifth District Survey of Manufacturing Activity: New orders: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Fifth District, the seasonally adjusted diffusion index for new orders (share of CEOs seeing a recent increase minus share reporting a decrease) was -6.0 in January 2026, compared to -8.0 in December 2025.
Sample. There are 389 observations overall in the monthly series displayed in the figure above. The time span covered by the series goes from January 1993 to January 2026.
History. Here are some simple statistics calculated on the full sample: the diffusion index had an average value of 1.7; it reached a minimum of -62.0 in April 2020; it hit a peak of 38.0 in June 2021.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | -22.0 |
| 2025-12-31 | -8.0 |
| 2026-01-31 | -6.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did new 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 Richmond |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
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