Manufacturing Business Outlook Survey: Shipments: Current (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 based in Pennsylvania, New Jersey and Delaware, the seasonally unadjusted diffusion index for shipments (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 12.5 in June 2026, compared to 3.8 in the previous month.
Sample. This monthly series has 698 records overall. The series covers the period extending from May 1968 to June 2026.
History. Here's a glimpse of a few descriptive statistics we computed on the whole sample: the diffusion index reached its minimum of -71.4 in April 2020; it hit a peak of 65.0 in March 1973; it averaged 13.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-04-30 | 33.3 |
| 2026-05-31 | 3.8 |
| 2026-06-30 | 12.5 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did shipments 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 | 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) |
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