Manufacturing Business Outlook Survey: Delivery times: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Manufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. Based on firms' responses to the Manufacturing Business Outlook Survey carried out by the Philadelphia FED, the seasonally adjusted diffusion index for delivery times (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 6.6 in October 2025, compared to -3.4 in the previous month.
Sample. There are 690 observations overall in the monthly time series displayed in the graph above. The time span covered by the series stretches from May 1968 to October 2025.
History. Here are a few summary statistics computed on the whole sample: the diffusion index had an average value of -2.2; it reached its maximum of 39.8 in November 2021; it registered a minimum of -34.2 in June 1980.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | -5.4 |
| 2025-09-30 | -3.4 |
| 2025-10-31 | 6.6 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did delivery times 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 Philadelphia |
| 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) |