Output per Worker for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
Index 2017=100
IPUBN2111W000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
166.46
Year-over-Year Change
198.09%
Date Range
1/1/1987 - 1/1/2024
Summary
The Index 2017=100 measures changes in the level of manufacturing production in the United States over time. It is a key indicator of the overall health and direction of 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 Index 2017=100 tracks the volume of manufacturing output, adjusting for seasonal variations. It is a composite index based on a range of manufacturing industries and serves as a barometer for the broader industrial sector.
Methodology
The data is collected through surveys of manufacturing facilities and calculated as an index with a 2017 base year.
Historical Context
Policymakers and analysts monitor this index to assess the strength of the manufacturing economy and inform economic decision-making.
Key Facts
- The index has a base year of 2017 with a value of 100.
- Manufacturing accounts for approximately 11% of U.S. GDP.
- The index reached a record high of 104.7 in December 2021.
FAQs
Q: What does this economic trend measure?
A: The Index 2017=100 measures changes in the volume of manufacturing production in the United States, providing a gauge of industrial activity.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing index is a closely watched indicator of the overall health of the U.S. economy, as the industrial sector is a significant driver of economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing facilities and calculated as an index with a 2017 base year of 100.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the strength of the manufacturing economy and inform decisions related to monetary policy, trade, and economic stimulus.
Q: Are there update delays or limitations?
A: The index is published monthly by the Federal Reserve, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Index 2017=100 (IPUBN2111W000000000), retrieved from FRED.