Unit Labor Costs for Manufacturing: Food Manufacturing (NAICS 311) in the United States
Percent Change from Year Ago
IPUEN311U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.50
Year-over-Year Change
134.37%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' metric measures the annual rate of change in industrial production. It is a key indicator of overall economic activity and manufacturing 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
This industrial production index tracks monthly changes in the total output of factories, mines, and utilities in the United States. It is a widely followed indicator used by policymakers, analysts, and investors to assess the broader economic climate.
Methodology
The Federal Reserve collects and compiles this data from surveys of industrial facilities across the country.
Historical Context
The percent change from a year earlier is a common way to analyze industrial production trends and their implications for monetary and fiscal policy.
Key Facts
- Industrial production accounts for around 20% of total U.S. economic output.
- The percent change from a year ago reached a peak of 8.3% in March 2022.
- The index is published monthly by the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric tracks the annual rate of change in total industrial production, including factories, mines, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This measure of industrial output is a key indicator of overall economic activity and manufacturing health, making it highly relevant for policymakers, analysts, and investors.
Q: How is this data collected or calculated?
A: The Federal Reserve collects this data through surveys of industrial facilities across the United States.
Q: How is this trend used in economic policy?
A: The percent change in industrial production is closely monitored by the Federal Reserve and other policymakers to assess the state of the economy and inform monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The industrial production data is published monthly by the Federal Reserve, with a typical release lag of around 15 days after the end of the reference month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN311U101000000), retrieved from FRED.