Average Fed Mfg Survey: Inventories of raw materials: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Mfg Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve manufacturing surveys, the seasonally adjusted diffusion index for inventories of raw materials stood at 7.5 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, versus 10.0 in August 2026.
Sample. The monthly time series shown in the plot has a total of 268 data points. The series covers the time span extending from June 2004 to September 2026.
History. Here's a glimpse of some summary statistics we computed on the entire sample: the diffusion index had a mean value of 8.3; it reached its lowest level of -5.5 in July 2009; it attained a maximum of 26.5 in October 2017.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 2.00000 |
| 2026-08-31 | 10.0000 |
| 2026-09-30 | 7.50000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did inventories of raw materials increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Seasonally adjusted | Yes |
| 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 | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 2 regional Federal Reserve manufacturing surveys |
| FSR temporal aggregation code | LM01 |
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