Hours Worked for Construction: Nonresidential Building Construction (NAICS 2362) in the United States
Percent Change from Year Ago
IPUDN2362L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.80
Year-over-Year Change
-18.18%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' metric measures the year-over-year change in industrial production for durable consumer goods. This provides valuable insights into consumer demand and 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 industrial production index tracks changes in the output of durable consumer goods, which include items like appliances, furniture, and consumer electronics. It is a key indicator of consumer confidence and economic activity.
Methodology
The data is collected through surveys of industrial facilities and calculated as a percent change from the same month in the prior year.
Historical Context
Policymakers and analysts use this metric to assess broader macroeconomic trends and the momentum of the consumer economy.
Key Facts
- Durable goods make up about 25% of total consumer spending.
- The index is seasonally adjusted to account for typical monthly variations.
- Percent change is calculated as the current month versus the same month one year prior.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric tracks the annual change in industrial production for durable consumer goods, providing insights into consumer demand and manufacturing activity.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer confidence and the overall health of the economy, as durable goods purchases are often discretionary and reflect broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of industrial facilities and calculated as a percent change from the same month in the prior year.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess broader macroeconomic trends and the momentum of the consumer economy, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of 1-2 months, and may be subject to revisions as more complete information becomes available.
Related Trends
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUDN2362L201000000), retrieved from FRED.