Labor Compensation for Retail Trade: Pet and Pet Supplies Stores (NAICS 45391) in the United States
Percent Change from Year Ago
IPUHN45391L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.50
Year-over-Year Change
-80.26%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the year-over-year change in the US manufacturing production index. This metric is a key indicator of the health and direction of the US industrial sector.
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 'Percent Change from Year Ago' tracks the manufacturing production index, which measures the real output of the US manufacturing industry. This trend provides important insights into the broader industrial economy and is closely monitored by economists and policymakers.
Methodology
The data is collected and calculated by the Federal Reserve based on surveys of manufacturing facilities.
Historical Context
This indicator helps analysts and policymakers assess the performance and trajectory of the US manufacturing sector.
Key Facts
- The manufacturing production index reached a record high in 2022.
- Manufacturing accounts for over 11% of US GDP.
- Percent change from a year ago reached -5.1% during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the year-over-year change in the US manufacturing production index, providing insights into the health of the industrial sector.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely watched by economists, investors, and policymakers as a barometer of the US industrial economy and its trajectory.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Federal Reserve based on surveys of manufacturing facilities.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the performance of the manufacturing sector and inform decisions on fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released monthly by the Federal Reserve with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUHN45391L021000000), retrieved from FRED.