Labor Compensation for Retail Trade: Pharmacies and Drug Stores (NAICS 44611) in the United States
Millions of Dollars
IPUHN44611L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,607.36
Year-over-Year Change
21.48%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Dollars' metric measures the total production output of the U.S. manufacturing sector. It is a key indicator of economic growth and industrial activity.
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 metric represents the total monetary value, in millions of dollars, of manufactured goods produced in the United States. It provides insight into the scale and productivity of the nation's manufacturing base, a vital component of the broader economy.
Methodology
The data is collected through surveys of manufacturing establishments and compiled by the U.S. Census Bureau.
Historical Context
Analysts and policymakers monitor this indicator to assess the health and trajectory of the U.S. industrial sector.
Key Facts
- The manufacturing sector accounts for over 11% of U.S. GDP.
- Manufacturing output has grown by over 25% since the Great Recession.
- The U.S. is the world's second-largest manufacturer, behind China.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total monetary value of manufactured goods produced in the United States, providing insight into the scale and productivity of the nation's industrial sector.
Q: Why is this trend relevant for users or analysts?
A: Monitoring manufacturing output is crucial for understanding broader economic growth, as the manufacturing sector is a vital component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments and compiled by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Analysts and policymakers closely follow this indicator to assess the health and trajectory of the U.S. industrial sector, which informs economic and trade policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of 6-8 weeks between the reference period and the release of the latest figures.
Related Trends
Sectoral Output for Retail Trade: Furniture and Home Furnishings Stores (NAICS 442) in the United States
IPUHN442T301000000
Sectoral Output for Retail Trade: Fuel Dealers (NAICS 454310) in the United States
IPUHN454310T300000000
Unit Labor Costs for Retail Trade: Home Centers (NAICS 444110) in the United States
IPUHN444110U100000000
Real Sectoral Output for Retail Trade: Family Clothing Stores (NAICS 44814) in the United States
IPUHN44814T011000000
Labor Productivity for Retail Trade: Family Clothing Stores (NAICS 44814) in the United States
IPUHN44814L001000000
Hourly Compensation for Retail Trade: Used Merchandise Stores (NAICS 4533) in the United States
IPUHN4533U120000000
Citation
U.S. Federal Reserve, Millions of Dollars (IPUHN44611L020000000), retrieved from FRED.