Hourly Compensation for Mining: Oil and Gas Extraction (NAICS 211) in the United States
Index 2017=100
IPUBN211U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.88
Year-over-Year Change
42.88%
Date Range
1/1/1987 - 1/1/2024
Summary
The Index 2017=100 measures the monthly change in U.S. industrial production, a key indicator of economic activity and growth.
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 the real output of manufacturing, mining, and electric and gas utilities industries in the United States. It is a widely-watched metric for assessing the health and momentum of the U.S. economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys of industrial facilities.
Historical Context
The index is used by policymakers, analysts, and investors to monitor the strength of the U.S. economy and inform economic decision-making.
Key Facts
- The index uses 2017 as the base year with a value of 100.
- Manufacturing accounts for the largest share of the industrial production index.
- The index is a monthly series dating back to 1919.
FAQs
Q: What does this economic trend measure?
A: The Index 2017=100 measures the real output of U.S. industrial production, including manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: The industrial production index is a key indicator of the health and momentum of the U.S. economy, providing important insights for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated monthly by the U.S. Federal Reserve based on surveys of industrial facilities.
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 assess the strength of the economy and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The industrial production index is released on a monthly basis, with a typical lag of around one month from the end of the reference period.
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Citation
U.S. Federal Reserve, Index 2017=100 (IPUBN211U120000000), retrieved from FRED.