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. According to survey data about manufacturers based in Pennsylvania, New Jersey and Delaware, the seasonally adjusted diffusion index for prices received (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 72.3 in September 2026, compared to 59.8 in August.
Sample. There are 701 records overall in the monthly series presented in the figure above. The series covers the time period extending from May 1968 to September 2026.
History. Have a look at a few summary statistics we calculated on the whole sample: the diffusion index registered a minimum of -21.1 in March 2009; it attained a maximum of 83.9 in February 1977; it was equal on average to 35.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 41.4 |
| 2026-08-31 | 59.8 |
| 2026-09-30 | 72.3 |
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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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