Empire State Manufacturing Survey: Inventories: Future (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 survey data about NY-based manufacturers collected by the Federal Reserve, the seasonally unadjusted diffusion index for inventories (share of CEOs seeing a future increase minus share forecasting a decrease) was 7.8 in October 2025, versus 4.9 in September 2025.
Sample. There are 292 data points overall in the monthly series shown in the chart above. The time period covered by the series is from July 2001 to October 2025.
History. Check out some simple statistics computed on the whole sample: the diffusion index reached its highest level of 20.3 in January 2018; it reached a minimum of -21.3 in April 2009; it had a mean of 0.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | 1.8 |
| 2025-09-30 | 4.9 |
| 2025-10-31 | 7.8 |
Nugget of wisdom. Our metadata often comprise references to the sources of the time-series data shown on FetchSeries. You can use these references to discover more details.
Not for investment purposes. Content found on FetchSeries is not suitable for investment purposes or other financial decisions. Users should obtain professional advice and do independent analysis before making any financial commitments.
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 | 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) |