Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
Percent Change from Year Ago
IPUGN42421L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.40
Year-over-Year Change
-400.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' indicator measures the year-over-year change in industrial production. It provides insights into the overall health and direction of the U.S. economy.
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 series tracks the annual percent change in the Federal Reserve's Industrial Production Index, which measures the real output of U.S. manufacturing, mining, and electric and gas utilities. It is a key economic indicator used to assess industrial activity and business cycle trends.
Methodology
The data is calculated by the Federal Reserve based on monthly surveys of industrial facilities.
Historical Context
Policymakers and analysts monitor this metric to gauge the strength of the manufacturing and industrial sectors.
Key Facts
- The Industrial Production Index covers around 75% of total industrial activity in the United States.
- The percent change metric allows for comparison of production levels over time, adjusting for seasonal variations.
- Industrial production is a leading economic indicator that often peaks before the overall economy.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' indicator tracks the year-over-year change in the Federal Reserve's Industrial Production Index, providing insights into the health of U.S. manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, investors, and economists as an important gauge of economic activity and industrial sector performance.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve based on monthly surveys of industrial facilities across the United States.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor the percent change in industrial production to assess the overall health of the manufacturing and industrial sectors, which are crucial drivers of the U.S. economy.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly by the Federal Reserve, with a typical delay of around one month from the end of the reference period.
Related Trends
Labor Productivity for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States
IPUGN4245L000000000
Unit Labor Costs for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247U101000000
Output per Worker for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 425) in the United States
IPUGN425W000000000
Output per Worker for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
IPUGN42421W000000000
Unit Labor Costs for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234U100000000
Hours Worked for Wholesale Trade: Electrical and Electronic Goods Merchant Wholesalers (NAICS 4236) in the United States
IPUGN4236L010000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUGN42421L201000000), retrieved from FRED.