Empire State Manufacturing Survey: Inventories: Future (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 manufacturing firms' responses to the Empire State Survey carried out by the New York FED, the seasonally adjusted diffusion index for inventories (share of CEOs seeing a future increase minus share forecasting a decrease) was 7.2 in August 2026, compared to 10.0 in the previous month.
Sample. In this monthly series, there are 302 observations overall. The period covered by the series extends from July 2001 to August 2026.
History. Check out a few simple statistics we computed on the entire sample: the diffusion index was equal on average to 0.6; it recorded a bottom of -21.3 in April 2009; it reached a maximum of 20.3 in January 2018.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-06-30 | 8.9 |
| 2026-07-31 | 10.0 |
| 2026-08-31 | 7.2 |
Suggestion. A benefit of our data visualization and download service is that we publish complete metadata. Check it below to learn more about the properties of the indicators that you use in your work.
Not for investment purposes. Information provided on this web site is not not supposed to be used for investment purposes or other financial decisions. Users should obtain expert advice and perform their own independent due diligence before pledging money to any investment.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will inventories increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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) |
Series in the same data set
Discover the other time series included in this data set.