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. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) was -1.0 in October 2025, versus -4.9 in the previous month.
Sample. This monthly time series has 292 observations. The series covers the time range stretching from July 2001 to October 2025.
History. Take a look at some simple statistics calculated on the entire sample: the diffusion index reached its maximum of 40.0 in September 2001; it registered a minimum of -36.5 in July 2009; it had a mean of -2.9.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | -6.4 |
| 2025-09-30 | -4.9 |
| 2025-10-31 | -1.0 |
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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) |