Value-Added Output Price Deflator for Private Nonfarm in Rhode Island
Percent Change from Year Ago
IPUZNT051440000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.70
Year-over-Year Change
35.00%
Date Range
1/1/2008 - 1/1/2024
Summary
The 'Percent Change from Year Ago' indicator measures the year-over-year change in industrial production, providing insight into the pace of economic 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 economic metric tracks the percent change in the total output of manufacturing, mining, and electric and gas utilities industries compared to the same month in the previous year. It is a key indicator of industrial and overall economic performance.
Methodology
The Federal Reserve collects and aggregates production data from thousands of businesses across the U.S.
Historical Context
Policymakers and analysts use this time series to assess the health of the industrial sector and broader economy.
Key Facts
- The percent change hit a low of -12.7% in April 2020 during the COVID-19 pandemic.
- Industrial production has historically tracked closely with GDP growth.
- This indicator is released monthly by the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' indicator measures the annual change in total industrial production, including manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a timely gauge of the industrial sector's performance and broader economic conditions, making it a key indicator used by policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The Federal Reserve collects production data from thousands of businesses across the U.S. and calculates the year-over-year percent change.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this indicator to assess the health of the industrial economy and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The 'Percent Change from Year Ago' data is released monthly by the Federal Reserve with a lag of around 2 months.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUZNT051440000), retrieved from FRED.