Kansas City Fed Manufacturing Survey: Inventories of raw materials: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Manufacturing Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Tenth Federal Reserve District, the seasonally unadjusted diffusion index for inventories of raw materials was -4.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in January 2026, compared to 5.0 in December 2025.
Sample. There are 295 records in the monthly time series presented in the graph above. The series covers the time span going from July 2001 to January 2026.
History. Here's a peek at some statistics calculated on the whole sample: the diffusion index had a mean value of -1.1; it hit a trough of -38.0 in February 2009; it recorded its highest level of 24.0 in June 2018.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-30 | -2.0 |
| 2025-12-31 | 5.0 |
| 2026-01-01 | -4.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will inventories or raw materials increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | No |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Inventories of raw materials |
| FSR temporal aggregation code | LM01 |
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