Manufacturing Business Outlook Survey: Prices received: 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 firms' responses to the Manufacturing Business Outlook Survey carried out by the Philadelphia FED, the seasonally adjusted diffusion index for prices received (share of CEOs seeing a future increase minus share forecasting a decrease) was 56.8 in November 2025, versus 45.7 in October.
Sample. In this monthly time series, there are 691 records in total. The series covers the period extending from May 1968 to November 2025.
History. Here's a snapshot of a few statistics calculated on the entire sample: the diffusion index had an average value of 34.8; it reached its minimum of -21.1 in March 2009; it attained a maximum of 83.9 in February 1977.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 64.8 |
| 2025-10-31 | 45.7 |
| 2025-11-30 | 56.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will prices received 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) |
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