Kansas City Fed Manufacturing Survey: Unfilled orders: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Manufacturing Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Tenth Federal Reserve District, the seasonally adjusted diffusion index for unfilled orders stood at -9.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in January 2026, versus -2.0 in December 2025.
Sample. There are 295 records in the monthly time series displayed in the chart above. The series covers the period extending from July 2001 to January 2026.
History. Here's a snapshot of some simple statistics calculated on the full sample: the diffusion index reached its maximum of 33.0 in May 2017; it registered a minimum of -39.0 in March 2020; it had an average value of 8.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | -1.0 |
| 2025-12-31 | -2.0 |
| 2026-01-01 | -9.0 |
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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 |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Unfilled orders |
| FSR temporal aggregation code | LM01 |
Series in the same data set
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