Sectoral Output Price Deflator for Manufacturing: Household and Institutional Furniture and Kitchen Cabinet Manufacturing (NAICS 3371) in the United States
IPUEN3371T051000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.10
Year-over-Year Change
-47.62%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the price deflator for the household and institutional furniture and kitchen cabinet manufacturing sector in the United States. It is a key indicator of price changes and production costs in this important manufacturing 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 Sectoral Output Price Deflator for Manufacturing: Household and Institutional Furniture and Kitchen Cabinet Manufacturing (NAICS 3371) tracks changes in the prices charged by producers in this manufacturing subsector. It is a valuable metric for assessing inflationary pressures and the overall health of the furniture and cabinetry industry.
Methodology
The data is collected through surveys of manufacturers and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts closely monitor this trend to understand broader manufacturing and consumer trends.
Key Facts
- The furniture and kitchen cabinet manufacturing industry accounts for over $50 billion in annual shipments.
- Prices in this sector have risen by an average of 2.5% per year over the past decade.
- This metric is a leading indicator of consumer furniture and home improvement demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the prices charged by producers in the household and institutional furniture and kitchen cabinet manufacturing industry (NAICS 3371) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of inflationary pressures and production costs in an important manufacturing sector, providing insights into broader economic and consumer trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturers and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this trend to understand manufacturing activity, consumer demand, and inflationary pressures in the furniture and home goods industries.
Q: Are there update delays or limitations?
A: This data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Sectoral Output Price Deflator for Manufacturing: Household and Institutional Furniture and Kitchen Cabinet Manufacturing (NAICS 3371) in the United States (IPUEN3371T051000000), retrieved from FRED.