Fifth District Survey of Manufacturing Activity: Unfilled orders: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 survey data about manufacturers based in the Fifth District, the seasonally unadjusted diffusion index for unfilled orders (share of CEOs seeing a future increase minus share forecasting a decrease) was -1.0 in November 2025, compared to -20.0 in October.
Sample. The monthly time series plotted above has 345 observations. The series covers the span of time extending from January 1997 to November 2025.
History. Have a look at some statistics we computed on the entire sample: the diffusion index recorded its highest level of 40.0 in February 2002; it recorded a bottom of -30.0 in October 2022; it averaged 11.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | -14.0 |
| 2025-10-31 | -20.0 |
| 2025-11-30 | -1.0 |
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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 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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