Hours Worked for Manufacturing: Motor Vehicle Body and Trailer Manufacturing (NAICS 3362) in the United States
Percent Change from Year Ago
IPUEN3362L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.50
Year-over-Year Change
-145.45%
Date Range
1/1/1988 - 1/1/2024
Summary
The Percent Change from Year Ago economic indicator measures the year-over-year change in a given data series, providing insight into broader economic trends.
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 is a common statistical technique used to analyze time series data and identify underlying patterns. It's widely employed by economists, policymakers, and analysts to contextualize economic performance and inform decision-making.
Methodology
The metric is calculated by comparing the current value of a data series to its value from the same period one year prior.
Historical Context
Tracking percent changes over time helps interpret the health and direction of the economy.
Key Facts
- The metric is commonly used to adjust for seasonal variations.
- Percent changes can signal acceleration, deceleration, or stability in economic conditions.
- Year-over-year data provides a longer-term perspective compared to month-over-month changes.
FAQs
Q: What does this economic trend measure?
A: The Percent Change from Year Ago measures the year-over-year change in a given economic indicator, providing insight into broader economic trends and performance.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and analysts to contextualize economic data, identify underlying patterns, and inform decision-making.
Q: How is this data collected or calculated?
A: The Percent Change from Year Ago is calculated by comparing the current value of a data series to its value from the same period one year prior.
Q: How is this trend used in economic policy?
A: Tracking percent changes over time helps interpret the health and direction of the economy, which is crucial for policymakers and institutions in formulating effective economic strategies.
Q: Are there update delays or limitations?
A: The timeliness and availability of the underlying data series may impact the frequency and promptness of Percent Change from Year Ago updates.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN3362L201000000), retrieved from FRED.