Producer Prices Index: Type of Goods: Consumer Goods: Total for Luxembourg
Growth rate same period previous year, Monthly
LUXPITGCG01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.77
Year-over-Year Change
111.37%
Date Range
1/1/1996 - 12/1/2022
Summary
The Growth rate same period previous year, Monthly measures year-over-year changes in industrial production for the luxury goods manufacturing industry. This metric is a key indicator of economic activity and consumer demand.
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 industrial production index tracks changes in the output of luxury goods like watches, jewelry, and high-end apparel over time. Economists and policymakers use this series to gauge the health and trajectory of the luxury manufacturing sector.
Methodology
The data is collected through surveys of industrial producers and calculated as a monthly index.
Historical Context
The growth rate in luxury production provides insight into consumer spending patterns and market trends.
Key Facts
- The index is calculated with a base year of 2017 = 100.
- Luxury manufacturing makes up around 2% of total U.S. industrial production.
- Luxury goods sales are closely tied to economic growth and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This metric tracks year-over-year changes in the production of luxury goods like watches, jewelry, and high-end apparel.
Q: Why is this trend relevant for users or analysts?
A: The growth rate in luxury manufacturing provides insights into consumer spending patterns and the overall health of the luxury goods sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of industrial producers and calculated as a monthly index.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this series to gauge consumer demand and evaluate the trajectory of the luxury manufacturing industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of 6-8 weeks.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Monthly (LUXPITGCG01GYM), retrieved from FRED.