Manufacturing Business Outlook Survey: New orders: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Manufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about manufacturers collected by the Federal Reserve in Pennsylvania, New Jersey and Delaware, the seasonally unadjusted diffusion index for new orders (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 60.0 in September 2026, compared to 54.2 in the previous month.
Sample. The monthly time series shown in the chart has 701 data points. The series covers the period stretching from May 1968 to September 2026.
History. Check out some descriptive statistics calculated on the entire sample: the diffusion index averaged 35.7; it hit a peak of 85.0 in April 1983; it reached its lowest level of -42.6 in December 1973.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 24.1 |
| 2026-08-31 | 54.2 |
| 2026-09-30 | 60.0 |
Hint. An advantage of our web site is that we publish rich metadata. Check it below to delve deeper into the attributes of the indicators that you analyze.
Not for investment purposes. Data series and other information found on FetchSeries are not intended for investment purposes or any other financial decision. Users should ask for expert advice and do their own independent due diligence before pledging money to any investment.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will new 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 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.