Fifth District Survey of Manufacturing Activity: Inventories of raw materials: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of manufacturing firms surveyd by the FED, the seasonally adjusted diffusion index for inventories of raw materials (share of CEOs seeing a recent increase minus share reporting a decrease) was 17.0 in September 2025, compared to 24.0 in the previous month.
Sample. There are 259 data points overall in the monthly series displayed in the figure above. The series covers the time range stretching from January 1997 to September 2025.
History. Here are some simple statistics computed on the whole sample: the diffusion index was equal on average to 14.9; it recorded a bottom of -25.0 in January 2021; it peaked at 35.0 in February 2008.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 17.0 |
| 2025-08-31 | 24.0 |
| 2025-09-30 | 17.0 |
Hint. An advantage of our web site is that we give you complete metadata. Check it below to gain insights on the properties of the series that you are exploring.
Not for investment purposes. Content released on this web site is not not supposed to be used for investment purposes or other financial decisions. Users should seek professional advice and do independent analysis before taking any financial risk.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did raw materials 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 | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Richmond |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |