Manufacturing Business Outlook Survey: Unfilled orders: 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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally unadjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) was 13.8 in July 2026, versus 12.5 in June.
Sample. In this monthly time series, there are 699 records in total. The series covers the period stretching from May 1968 to July 2026.
History. Here's a glimpse of some statistics we computed on the entire sample: the diffusion index had a mean of -4.2; it recorded a maximum of 54.0 in March 1973; it reached its minimum of -74.0 in December 1974.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-05-31 | 0.0 |
| 2026-06-30 | 12.5 |
| 2026-07-31 | 13.8 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did unfilled orders 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) |
Series in the same data set
Discover the other time series included in this data set.