Unit Labor Costs for Manufacturing: Grain and Oilseed Milling (NAICS 3112) in the United States
Percent Change from Year Ago
IPUEN3112U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.00
Year-over-Year Change
-850.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the year-over-year percent change in industrial production, providing insight into manufacturing activity and overall economic conditions.
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 industrial production index tracks changes in U.S. manufacturing, mining, and utilities output compared to the same month in the prior year. It is a key indicator used by economists, policymakers, and analysts to assess the health and trajectory of the broader economy.
Methodology
The data is compiled monthly by the Federal Reserve based on surveys of industrial facilities.
Historical Context
The industrial production index is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- The index reached a low of -13.7% in April 2020 during the COVID-19 pandemic.
- Manufacturing accounts for approximately 75% of the total industrial production index.
- The index has averaged annual growth of 2.3% over the past 20 years.
FAQs
Q: What does this economic trend measure?
A: The Percent Change from Year Ago industrial production index tracks changes in U.S. manufacturing, mining, and utilities output compared to the same month in the prior year.
Q: Why is this trend relevant for users or analysts?
A: The industrial production index is a key indicator used by economists, policymakers, and analysts to assess the health and trajectory of the broader economy.
Q: How is this data collected or calculated?
A: The data is compiled monthly by the Federal Reserve based on surveys of industrial facilities.
Q: How is this trend used in economic policy?
A: The industrial production index is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly by the Federal Reserve with a typical one-month lag.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN3112U101000000), retrieved from FRED.