Hours Worked for Transportation and Warehousing: Pipeline Transportation of Crude Oil (NAICS 48611) in the United States
Percent Change from Year Ago
IPUIN48611L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.40
Year-over-Year Change
58.49%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the year-over-year change in the Industrial Production Index, providing insight into the pace of industrial activity in 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
The Industrial Production Index tracks the real output of the manufacturing, mining, and electric and gas utility industries. This key economic indicator is closely watched by policymakers and analysts to assess the overall health and direction of the industrial sector.
Methodology
The Federal Reserve compiles the Industrial Production Index using monthly surveys of industrial facilities.
Historical Context
Trends in industrial production help inform macroeconomic policy decisions and provide signals about the broader economic outlook.
Key Facts
- The Industrial Production Index has a base year of 2017.
- Manufacturing accounts for the largest share of the overall index.
- Percent changes are calculated as year-over-year to smooth out monthly volatility.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the annual rate of change in the Industrial Production Index, which tracks output across the manufacturing, mining, and utility sectors.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the overall health and direction of the U.S. industrial economy, helping inform economic forecasts and policy decisions.
Q: How is this data collected or calculated?
A: The Federal Reserve compiles the Industrial Production Index using monthly surveys of industrial facilities across the country.
Q: How is this trend used in economic policy?
A: Trends in industrial production are closely monitored by policymakers and economists to assess the broader economic outlook and inform decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Industrial Production Index is released monthly with a typical lag of around 15 days from the end of the reference month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUIN48611L201000000), retrieved from FRED.