Sectoral Output for Mining: Oil and Gas Extraction (NAICS 211) in the United States
Percent Change from Year Ago
IPUBN211T301000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.60
Year-over-Year Change
2500.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic indicator measures the percent change in an index from the same month a year ago. It provides insight into the pace of economic activity and inflationary pressures.
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 percent change from year ago is a widely-used metric that compares the current value of an economic indicator to its level 12 months prior. This allows analysts to identify emerging trends and evaluate the strength of the economy over time.
Methodology
The percent change is calculated by the U.S. Federal Reserve using the formula: [(current value - prior year value) / prior year value] x 100.
Historical Context
Policymakers and investors closely monitor this metric to inform decisions about interest rates, investment strategies, and economic forecasting.
Key Facts
- The percent change from year ago can signal turning points in the business cycle.
- Year-over-year metrics help control for seasonal fluctuations in economic data.
- This indicator is a leading predictor of future inflation and GDP growth.
FAQs
Q: What does this economic trend measure?
A: The percent change from year ago compares the current value of an economic indicator to its level 12 months prior, providing insight into the pace of economic activity.
Q: Why is this trend relevant for users or analysts?
A: This metric helps identify emerging economic trends and evaluate the strength of the economy over time, informing decisions about interest rates, investment strategies, and economic forecasting.
Q: How is this data collected or calculated?
A: The percent change is calculated by the U.S. Federal Reserve using the formula: [(current value - prior year value) / prior year value] x 100.
Q: How is this trend used in economic policy?
A: Policymakers and investors closely monitor this metric to inform decisions about interest rates, investment strategies, and economic forecasting.
Q: Are there update delays or limitations?
A: The percent change from year ago data is published monthly with minimal delays, providing timely insight into the state of the economy.
Similar IPUBN211T Trends
Sectoral Output Price Deflator for Mining: Sand, Gravel, Clay, and Ceramic and Refractory Minerals Mining and Quarrying (NAICS 21232) in the United States
IPUBN21232T050000000
Hourly Compensation for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States
IPUBN212U120000000
Sectoral Output for Mining: Oil and Gas Extraction (NAICS 211) in the United States
IPUBN211T300000000
Hours Worked for Mining: Metal Ore Mining (NAICS 2122) in the United States
IPUBN2122L010000000
Hours Worked for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231L201000000
Hourly Compensation for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
IPUBN2123U120000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN211T301000000), retrieved from FRED.