Fifth District Survey of Manufacturing Activity: Inventories of raw materials: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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. According to survey data about manufacturers based in the Fifth District, the seasonally unadjusted diffusion index for inventories of raw materials (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 16.0 in November 2025, versus 7.0 in October 2025.
Sample. The monthly time series plotted above has 345 data points overall. The series covers the period going from January 1997 to November 2025.
History. Here's a glimpse of a few descriptive statistics we computed on the whole sample: the diffusion index reached a minimum of -27.0 in June 2000; it hit a peak of 16.0 in November 2025; it had an average value of -2.4.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-30 | 8.0 |
| 2025-10-31 | 7.0 |
| 2025-11-30 | 16.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will raw materials 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 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) |
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