Empire State Manufacturing Survey: Inventories: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 recent survey data about manufacturing firms in the State of New York, the seasonally unadjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) was -1.0 in October 2025, compared to -4.9 in September.
Sample. The monthly time series displayed in the figure has 292 observations. The time span covered by the series extends from July 2001 to October 2025.
History. Here are a few descriptive statistics we computed on the whole sample: the diffusion index had a mean value of -2.9; it recorded a bottom of -36.5 in July 2009; it recorded its maximum of 40.0 in September 2001.
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 | No |
| 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) |