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. According to recent survey data about manufacturing firms in the Third Federal Reserve District, the seasonally unadjusted diffusion index for unfilled orders (share of CEOs seeing a recent increase minus share reporting a decrease) was 12.5 in June 2026, compared to 0.0 in May 2026.
Sample. There are 698 records in the monthly time series presented in the graph above. The time period covered by the series is from May 1968 to June 2026.
History. Here's a peek at a few simple statistics we computed on the full sample: the diffusion index hit a maximum of 54.0 in March 1973; it recorded a minimum of -74.0 in December 1974; it had a mean value of -4.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-04-30 | -7.4 |
| 2026-05-31 | 0.0 |
| 2026-06-30 | 12.5 |
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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.