Labor Compensation for Transportation and Warehousing: Warehousing and Storage (NAICS 493) in the United States
Percent Change from Year Ago
IPUIN493L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.70
Year-over-Year Change
10.13%
Date Range
1/1/1993 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend measures the year-over-year change in the US industrial production index, a key indicator of manufacturing activity and economic health.
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 economic indicator tracks the annual percent change in the total industrial production index, which covers manufacturing, mining, and utilities. It provides insight into the momentum and direction of the US industrial sector over time.
Methodology
The data is collected and calculated monthly by the US Federal Reserve based on surveys of industrial facilities.
Historical Context
The industrial production index is closely monitored by policymakers, analysts, and businesses to assess the state of the broader economy.
Key Facts
- Industrial production accounts for about 20% of US economic activity.
- The index covers over 15 major industries, from auto manufacturing to utilities.
- Percent change from a year ago helps identify turning points in the business cycle.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' trend measures the annual percentage change in US industrial production, a key gauge of manufacturing, mining, and utilities output.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the momentum and direction of the industrial sector, which is a significant driver of the broader US economy. It helps analysts and policymakers assess economic performance and prospects.
Q: How is this data collected or calculated?
A: The data is collected and calculated monthly by the US Federal Reserve based on surveys of industrial facilities across the country.
Q: How is this trend used in economic policy?
A: The industrial production index is closely monitored by the Federal Reserve and other policymakers to help inform decisions on monetary policy, economic forecasting, and assessments of the business cycle.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly with a typical lag of around 15 days. There may be revisions to prior months as new information becomes available.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUIN493L021000000), retrieved from FRED.