Combined Inputs Costs for Manufacturing: Pharmaceutical and Medicine Manufacturing (NAICS 32541) in the United States
IPUEN32541M020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
203,196.40
Year-over-Year Change
32.01%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic trend measures the combined input costs for pharmaceutical and medicine manufacturing in the United States. It provides important insights into the cost pressures faced by a key industry.
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 Combined Inputs Costs for Manufacturing: Pharmaceutical and Medicine Manufacturing (NAICS 32541) index tracks the total cost of inputs like labor, materials, and energy used in the production of pharmaceuticals and medicine. This metric is closely watched by economists and policymakers to understand inflationary pressures and cost dynamics in a critical sector.
Methodology
The data is collected through surveys of manufacturing establishments and calculated as an index.
Historical Context
Changes in this index can inform monetary and fiscal policy decisions that impact the pharmaceutical industry.
Key Facts
- The index is based on 2012 as the reference year (2012=100).
- Pharmaceutical and medicine manufacturing is a $500+ billion industry in the U.S.
- Input costs account for over 70% of total production costs in this sector.
FAQs
Q: What does this economic trend measure?
A: This index tracks the combined costs of labor, materials, and energy inputs used in the production of pharmaceuticals and medicine in the United States.
Q: Why is this trend relevant for users or analysts?
A: Changes in this index provide important insights into the cost pressures facing a critical industry, which can inform economic policy and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments and calculated as an index by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Fluctuations in this index can inform monetary and fiscal policy decisions that impact the pharmaceutical industry and the broader economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Combined Inputs Costs for Manufacturing: Pharmaceutical and Medicine Manufacturing (NAICS 32541) in the United States (IPUEN32541M020000000), retrieved from FRED.