Hours Worked for Construction: Building Finishing Contractors (NAICS 2383) in the United States
Percent Change from Year Ago
IPUDN2383L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.30
Year-over-Year Change
-750.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the annual rate of change in a given economic indicator. It is a key metric used by economists and policymakers to understand the pace of economic growth or decline.
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 indicator calculates the percent change in a specific economic variable compared to the same period a year earlier. It provides important insights into the trajectory and momentum of the economy over time, beyond just the raw data point.
Methodology
The percent change is calculated by the U.S. Federal Reserve based on the original source data for the economic indicator.
Historical Context
Policymakers and analysts closely monitor this statistic to inform decisions and forecasts around monetary policy, business investment, and consumer spending.
Key Facts
- Measures annual percent change in an economic indicator.
- Provides insights into the pace of economic expansion or contraction.
- Used by policymakers and analysts to inform decisions.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the annual rate of change in a given economic indicator, providing insights into the pace of economic growth or decline.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and investors as it offers valuable insights into the momentum and trajectory of the economy over time.
Q: How is this data collected or calculated?
A: The percent change is calculated by the U.S. Federal Reserve based on the original source data for the economic indicator.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this statistic to inform decisions and forecasts around monetary policy, business investment, and consumer spending.
Q: Are there update delays or limitations?
A: The data is typically published with minimal delay, providing timely insights into the current state of the economy.
Related Trends
Hours Worked for Construction: Other Heavy and Civil Engineering Construction (NAICS 2379) in the United States
IPUDN2379L201000000
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Hours Worked for Construction: Residential Building Construction (NAICS 23611) in the United States
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUDN2383L201000000), retrieved from FRED.