Gross Domestic Product: All Industry Total in Illinois
Annual, Not Seasonally Adjusted
ILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,137,243.60
Year-over-Year Change
56.76%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures inflation-adjusted U.S. industrial production, providing insight into the overall health of the 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
This index tracks changes in the total output of the U.S. industrial sector, including factories, mines, and utilities. It is a key indicator used by economists and policymakers to assess the strength of the broader economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve.
Historical Context
Industrial production is closely monitored for its implications on employment, consumer spending, and monetary policy.
Key Facts
- The index uses 2017 as the base year.
- Industrial production declined sharply during the COVID-19 pandemic.
- Key industries include automobiles, aerospace, and energy.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total volume of goods produced by U.S. factories, mines, and utilities, providing an overview of industrial activity.
Q: Why is this trend relevant for users or analysts?
A: Industrial production is a critical indicator of the health and direction of the broader economy, offering insights into manufacturing, investment, and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on a comprehensive survey of industrial facilities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor industrial production closely as it informs decisions on interest rates, trade policy, and other measures aimed at promoting economic growth.
Q: Are there update delays or limitations?
A: The data is released monthly by the Federal Reserve, with a typical delay of around six weeks.
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Citation
U.S. Federal Reserve, Industrial Production: Total Index, Not Seasonally Adjusted (ILNGSP), retrieved from FRED.