Sectoral Output Price Deflator for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
Percent Change from Year Ago
IPUBN2123T051000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.50
Year-over-Year Change
96.97%
Date Range
1/1/1988 - 1/1/2024
Summary
The Percent Change from Year Ago trend tracks the annualized rate of change in industrial production, providing insight into the health of the manufacturing sector.
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 indicator measures the percent change in industrial production compared to the same month one year prior. It is a widely-used metric for analyzing the strength and direction of the U.S. industrial economy.
Methodology
The data is collected through surveys of industrial facilities and calculated as a year-over-year percent change.
Historical Context
Policymakers and analysts closely monitor this indicator to gauge inflationary pressures and inform monetary and fiscal policy decisions.
Key Facts
- The trend reached a high of 17.9% in March 2021 as the economy rebounded from pandemic lows.
- Percent Change from Year Ago has averaged 2.1% over the past 20 years.
- The metric is a leading indicator of overall economic conditions in the United States.
FAQs
Q: What does this economic trend measure?
A: The Percent Change from Year Ago trend tracks the annualized rate of change in industrial production, providing insight into the performance of the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely watched by policymakers, investors, and analysts as a barometer of economic health and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of industrial facilities and calculated as a year-over-year percent change in industrial production.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this metric to inform decisions on monetary and fiscal policy, as it provides insight into the strength of the manufacturing sector.
Q: Are there update delays or limitations?
A: The Percent Change from Year Ago data is published monthly by the Federal Reserve with a typical release lag of around 6 weeks.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2123T051000000), retrieved from FRED.