Hours Worked for Manufacturing: Animal Slaughtering and Processing (NAICS 31161) in the United States
Percent Change from Year Ago
IPUEN31161L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.60
Year-over-Year Change
-236.84%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the annual percentage change in manufacturing production for the U.S. This key metric provides insight into 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
This series tracks the year-over-year percent change in the Federal Reserve's Industrial Production Index for total manufacturing. It is widely followed by economists, policymakers, and analysts to gauge the broader manufacturing economy and its role in the business cycle.
Methodology
The Federal Reserve collects and calculates this index based on monthly surveys of industrial facilities across the United States.
Historical Context
Trends in manufacturing production are crucial inputs for macroeconomic analysis, monetary policy decisions, and understanding the broader trajectory of the U.S. economy.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The sector employs over 12 million workers nationwide.
- Production growth reflects broader economic momentum.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric tracks the annual percentage change in U.S. manufacturing production, as calculated by the Federal Reserve's Industrial Production Index.
Q: Why is this trend relevant for users or analysts?
A: This key indicator provides valuable insights into the overall health and trajectory of the U.S. manufacturing sector, which is a crucial component of the broader economy.
Q: How is this data collected or calculated?
A: The Federal Reserve collects monthly survey data from industrial facilities across the country to calculate the Industrial Production Index, the basis for this percent change metric.
Q: How is this trend used in economic policy?
A: Trends in manufacturing production are closely monitored by policymakers, economists, and analysts to inform macroeconomic analysis, monetary policy decisions, and assessments of the broader business cycle.
Q: Are there update delays or limitations?
A: This series is published monthly by the Federal Reserve with a typical 2-week delay following the reference period.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN31161L201000000), retrieved from FRED.