Manufacturing Business Outlook Survey: Delivery times: Future (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 a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for delivery times (share of CEOs seeing a future increase minus share forecasting a decrease) was 5.3 in November 2025, versus 9.3 in October 2025.
Sample. In the monthly time series presented in the chart, there are a total of 691 records. The time range covered by the series is from May 1968 to November 2025.
History. Have a look at some descriptive statistics computed on the entire sample: the diffusion index reached its highest level of 33.3 in June 1983; it reached a minimum of -32.4 in June 2022; it was equal on average to -1.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 0.5 |
| 2025-10-31 | 9.3 |
| 2025-11-30 | 5.3 |
Tip. To simplify complex analyses, we group indicators into data sets and worksheets. By moving down the page, you will find how we structured further material related to the statistics found here.
Not for investment purposes. Information collected and published on this web site is not intended for investment purposes or any other financial decision. Users should consult expert advice and perform their own independent due diligence before taking any financial risk.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will delivery times 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 | 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) |
Series in the same data set
Discover the other time series included in this data set.