Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
Percent Change from Year Ago
IPUGN42421U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.90
Year-over-Year Change
75.56%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend tracks the year-over-year change in the Index of Industrial Production, a key indicator of manufacturing activity and economic growth.
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 Index of Industrial Production (IP) measures the real output of the U.S. manufacturing, mining, and electric and gas utility sectors. The 'Percent Change from Year Ago' captures the annual rate of change in this comprehensive production index, providing insights into the momentum of industrial activity.
Methodology
The Federal Reserve collects and aggregates data from thousands of firms to calculate the monthly IP index.
Historical Context
Economists and policymakers monitor this metric to assess the health and trajectory of the broader economy.
Key Facts
- The IP index has a base year of 2017 = 100.
- The 'Percent Change from Year Ago' reached a pandemic low of -16.3% in April 2020.
- Manufacturing accounts for approximately 75% of the total IP index.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' tracks the annual rate of change in the Federal Reserve's Index of Industrial Production, a comprehensive measure of real output in U.S. manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the momentum of industrial activity, a key driver of overall economic growth. Economists and policymakers closely monitor the 'Percent Change from Year Ago' to assess the health and trajectory of the broader economy.
Q: How is this data collected or calculated?
A: The Federal Reserve collects production data from thousands of firms across the manufacturing, mining, and utilities sectors, and then aggregates this information to calculate the monthly Index of Industrial Production.
Q: How is this trend used in economic policy?
A: The 'Percent Change from Year Ago' in industrial production is a critical input for policymakers at the Federal Reserve and other institutions when evaluating the state of the economy and making decisions about interest rates, monetary policy, and other economic interventions.
Q: Are there update delays or limitations?
A: The Federal Reserve publishes the Index of Industrial Production and 'Percent Change from Year Ago' data on a monthly basis, with a typical release lag of around two weeks after the end of the reference month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUGN42421U121000000), retrieved from FRED.