Empire State Manufacturing Survey: Inventories: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly
This series is part of the dataset: Empire State Manufacturing Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about NY-based manufacturers collected by the Federal Reserve, the seasonally adjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 11.6 in October 2026, versus 8.9 in September 2026.
Sample. There are 304 records overall in the monthly time series presented in the graph above. The span of time covered by the series stretches from July 2001 to October 2026.
History. Here's a glimpse of a few summary statistics computed on the entire sample: the diffusion index averaged -2.6; it registered a minimum of -36.5 in July 2009; it recorded its highest level of 40.0 in September 2001.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-08-31 | -5.20000 |
| 2026-09-30 | 8.90000 |
| 2026-10-31 | 11.6000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did inventories 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 | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of New York |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
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