Average Fed Mfg Survey: Inventories (total): Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for inventories (total) was 8.9 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 5.7 in August 2026.
Sample. The monthly time series displayed in the graph has 268 records overall. The span of time covered by the series extends from June 2004 to September 2026.
History. Take a look at some statistics we calculated on the whole sample: the diffusion index averaged 1.3; it peaked at 23.1 in January 2018; it reached its lowest level of -25.2 in April 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 8.45000 |
| 2026-08-31 | 5.70000 |
| 2026-09-30 | 8.95000 |
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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 | No |
| 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 |
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