Hours Worked for Construction: Specialty Trade Contractors (NAICS 238) in the United States
Percent Change from Year Ago
IPUDN238L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.60
Year-over-Year Change
0.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This measure tracks the year-over-year percent change in U.S. industrial production. It is a key economic indicator used to assess the overall health and direction 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
The percent change from year ago in industrial production is a widely followed metric that provides insight into the pace of activity across the U.S. industrial economy. It is closely monitored by policymakers, analysts, and businesses to gauge the momentum of production and manufacturing.
Methodology
The Federal Reserve calculates this index based on survey data from a sample of manufacturing, mining, and utility companies.
Historical Context
This trend serves as an important barometer for the broader U.S. economy, with implications for monetary and fiscal policy decisions.
Key Facts
- Industrial production accounts for around 20% of the U.S. economy.
- The index tracks output from manufacturing, mining, and utilities sectors.
- Year-over-year percent changes can signal economic expansion or contraction.
FAQs
Q: What does this economic trend measure?
A: The percent change from year ago in industrial production tracks the annual rate of change in the total output of the U.S. manufacturing, mining, and utilities sectors.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insight into the underlying strength and direction of the U.S. industrial economy, making it a closely watched indicator for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates this index based on survey data from a representative sample of companies across the manufacturing, mining, and utilities sectors.
Q: How is this trend used in economic policy?
A: Changes in industrial production are closely monitored by the Federal Reserve and other policymakers to help inform monetary and fiscal policy decisions, as the industrial sector is a key driver of overall economic activity.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly by the Federal Reserve, with a typical lag of around 15 days following the end of the reference month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUDN238L201000000), retrieved from FRED.