Labor Compensation for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
Percent Change from Year Ago
IPUBN21239L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.20
Year-over-Year Change
700.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' series measures the year-over-year change in the US Industrial Production Index. This metric provides important insights into the health and direction of the US manufacturing sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Industrial Production Index tracks the real output of manufacturing, mining, and electric and gas utilities in the United States. The year-over-year percent change shows whether industrial production is expanding or contracting compared to the prior year, which is a key indicator of overall economic conditions.
Methodology
The data is compiled by the US Federal Reserve based on monthly surveys of industrial facilities.
Historical Context
This metric is closely monitored by policymakers, economists, and market analysts to assess the strength of the US economy.
Key Facts
- The US Industrial Production Index covers about 75% of total industrial activity.
- The index uses 2017 as its base year, with a value of 100.
- Historically, the percent change has ranged from -15% to +15% over the past 20 years.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' series tracks the year-over-year change in US industrial production, providing a gauge of the manufacturing sector's performance.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the health and direction of the US economy, as industrial production is a significant driver of overall economic growth.
Q: How is this data collected or calculated?
A: The data is compiled monthly by the US Federal Reserve based on surveys of industrial facilities across the country.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this indicator to assess the strength of the manufacturing sector and guide decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN21239L021000000), retrieved from FRED.