Average Fed Mfg Survey: Inventories (total): Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally adjusted diffusion index for inventories (total) stood at 10.8 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, versus 12.3 in August.
Sample. There are 268 records overall in the monthly time series presented in the chart above. The time span covered by the series goes from June 2004 to September 2026.
History. Here are some simple statistics we calculated on the entire sample: the diffusion index was equal on average to 1.4; it attained a maximum of 21.8 in March 2022; it hit a minimum of -26.8 in December 2008.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 11.2500 |
| 2026-08-31 | 12.3000 |
| 2026-09-30 | 10.7500 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will inventories increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 2 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
Series in the same data set
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