Hours Worked for Manufacturing: Other Food Manufacturing (NAICS 3119) in the United States
Percent Change from Year Ago
IPUEN3119L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-66.67%
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. It is a key economic indicator used to assess manufacturing activity and overall economic health.
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' tracks the annual percent change in the Federal Reserve's industrial production index. This provides insight into the pace of growth or contraction in the U.S. manufacturing and industrial sectors.
Methodology
The data is calculated based on the Federal Reserve's monthly survey of industrial production.
Historical Context
This metric is closely monitored by economists, policymakers, and market analysts to gauge the strength of the U.S. economy.
Key Facts
- The index reached a low of -13.7% in April 2020 during the COVID-19 pandemic.
- Industrial production returned to pre-pandemic levels by November 2021.
- The metric has averaged 2.8% annual growth over the past 20 years.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric tracks the annual percent change in the Federal Reserve's industrial production index.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the pace of growth or contraction in the U.S. manufacturing and industrial sectors, making it a key gauge of economic health.
Q: How is this data collected or calculated?
A: The data is calculated based on the Federal Reserve's monthly survey of industrial production.
Q: How is this trend used in economic policy?
A: The 'Percent Change from Year Ago' is closely monitored by economists, policymakers, and market analysts to assess the strength of the U.S. economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly by the Federal Reserve with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN3119L201000000), retrieved from FRED.