Nonmanufacturing Business Outlook Survey: Inventories: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Nonmanufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about nonmanufacturing firms based in Pennsylvania, New Jersey and Delaware, the seasonally unadjusted diffusion index for inventories (share of CEOs seeing a recent increase minus share reporting a decrease) was -8.1 in September 2026, compared to -5.9 in the previous month.
Sample. There are 187 records in the monthly time series shown in the chart above. The series covers the span of time extending from March 2011 to September 2026.
History. Check out some summary statistics calculated on the whole sample: the diffusion index had a mean value of 1.8; it attained a maximum of 17.6 in October 2014; it reached a trough of -11.1 in August 2023.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | -2.60000 |
| 2026-08-31 | -5.90000 |
| 2026-09-30 | -8.10000 |
Nugget of wisdom. One of the pros of our web site is that we give you accurate metadata. Find them below to learn more about the attributes of the series that you are exploring.
Not for investment purposes. Any data provided on FetchSeries are not suitable for investment purposes or any other financial decision. Users should obtain professional advice and perform their own independent due diligence before taking any financial risk.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did 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 | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Philadelphia |
| 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) |
Series in the same data set
Discover the other time series included in this data set.