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, the seasonally adjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) was -6.4 in August 2025, compared to 15.6 in July 2025.
Sample. There are 290 data points in the montly series presented in the chart above. The series covers the time span extending from July 2001 to August 2025.
History. Take a look at some descriptive statistics we computed on the full sample: the diffusion index had a mean of -2.9; it reached its minimum of -36.5 in July 2009; it reached its maximum of 40.0 in September 2001.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 0.9 |
| 2025-07-31 | 15.6 |
| 2025-08-31 | -6.4 |
Tip. One of the advantages of our data visualization and download service is that we give you rich metadata. Find it below to better understand the properties of the time series that you are exploring.
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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 | Montly |
| 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) |