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. Based on manufacturing firms' responses to the Empire State Survey carried out by the New York FED, the seasonally unadjusted 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. In this montly series, there are 290 data points in total. The time period covered by the series is from July 2001 to August 2025.
History. Here’s a quick look at some descriptive statistics calculated on the full sample: the diffusion index had an average value of -2.9; it reached a maximum of 40.0 in September 2001; it hit a trough of -36.5 in July 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-06-30 | 0.9 |
| 2025-07-31 | 15.6 |
| 2025-08-31 | -6.4 |
Heads-up. To simplify research, we group series into worksheets and datasets. By moving down the page, you will discover how we structured further material related to the statistics provided here.
Not for investment purposes. Data and analyses hosted on this web site are not intended for investment purposes or other financial decisions. Users should seek expert advice and do their own independent due diligence before pledging money to any investment.
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 | 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) |