Unit Labor Costs for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
Percent Change from Year Ago
IPUGN4231U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.20
Year-over-Year Change
-76.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the annual percent change in industrial production for the mining sector. This provides insight into the health and performance of the U.S. mining 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
This economic indicator tracks the year-over-year change in industrial production specifically for the mining sector, which includes activities such as oil and gas extraction, coal mining, and metal ore mining. It is used by economists and policymakers to assess the current state and recent trends in the U.S. mining industry.
Methodology
The Federal Reserve collects and calculates this data based on monthly surveys of industrial production.
Historical Context
The mining 'Percent Change from Year Ago' indicator is closely watched by market analysts and policymakers for signals about the broader economy.
Key Facts
- The mining sector accounts for about 11% of total U.S. industrial production.
- Mining production typically lags broader industrial production trends.
- The mining 'Percent Change' indicator reached a low of -14.8% in April 2020 during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' indicator tracks the annual percent change in industrial production specifically for the U.S. mining sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and performance of the mining industry, which is an important component of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The Federal Reserve collects this data through monthly surveys of industrial production and calculates the year-over-year percent change.
Q: How is this trend used in economic policy?
A: The mining 'Percent Change' indicator is closely monitored by market analysts and policymakers as a signal of broader economic conditions and trends.
Q: Are there update delays or limitations?
A: This data is published monthly by the Federal Reserve with a typical 1-2 month delay.
Related Trends
Unit Labor Costs for Wholesale Trade: Wholesale Trade (NAICS 42) in the United States
IPUGN42U100000000
Sectoral Output for Wholesale Trade: Metal and Mineral (Except Petroleum) Merchant Wholesalers (NAICS 4235) in the United States
IPUGN4235T300000000
Hourly Compensation for Wholesale Trade: Machinery, Equipment, and Supplies Merchant Wholesalers (NAICS 4238) in the United States
IPUGN4238U120000000
Hourly Compensation for Wholesale Trade: Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers (NAICS 4237) in the United States
IPUGN4237U121000000
Unit Labor Costs for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244U100000000
Labor Compensation for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
IPUGN4232L020000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUGN4231U101000000), retrieved from FRED.