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) stood at 5.1 in April 2026, compared to 6.9 in March 2026.
Sample. This monthly series has 298 records. The time range covered by the series is from July 2001 to April 2026.
History. Here’s a quick look at some summary statistics computed on the full sample: the diffusion index reached a minimum of -36.5 in July 2009; it recorded its maximum of 40.0 in September 2001; it was equal on average to -2.8.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-28 | 7.1 |
| 2026-03-31 | 6.9 |
| 2026-04-30 | 5.1 |
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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) |
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