Labor Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
Percent Change from Year Ago
IPUGN424210L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.30
Year-over-Year Change
0.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' metric tracks the yearly change in industrial production for the U.S. manufacturing sector. This key economic indicator provides insight into the health and growth of the manufacturing industry.
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 series measures the percent change in industrial production for a specific North American Industry Classification System (NAICS) manufacturing industry compared to the same month one year prior. It is a widely followed metric for monitoring the performance and direction of the U.S. manufacturing economy.
Methodology
The data is collected through surveys of manufacturing facilities and calculated by the U.S. Federal Reserve.
Historical Context
Policymakers and analysts use this metric to assess the broader state of the U.S. economy and inform decisions around monetary and fiscal policy.
Key Facts
- Manufacturing accounts for approximately 11% of U.S. GDP.
- The U.S. is the world's second-largest manufacturer after China.
- Manufacturing productivity has increased by over 2% annually since 2010.
FAQs
Q: What does this economic trend measure?
A: This metric measures the percent change in industrial production for a specific manufacturing industry compared to the same month one year prior.
Q: Why is this trend relevant for users or analysts?
A: This key indicator provides insight into the health and growth of the U.S. manufacturing sector, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing facilities and calculated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state of the U.S. economy and inform decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
Related Trends
Employment for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247W200000000
Labor Productivity for Wholesale Trade: Lumber and Other Construction Materials Merchant Wholesalers (NAICS 4233) in the United States
IPUGN4233L001000000
Hourly Compensation for Wholesale Trade: Machinery, Equipment, and Supplies Merchant Wholesalers (NAICS 4238) in the United States
IPUGN4238U120000000
Employment for Wholesale Trade: Paper and Paper Product Merchant Wholesalers (NAICS 4241) in the United States
IPUGN4241W201000000
Sectoral Output Price Deflator for Wholesale Trade: Miscellaneous Durable Goods Merchant Wholesalers (NAICS 4239) in the United States
IPUGN4239T050000000
Real Sectoral Output for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234T011000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUGN424210L021000000), retrieved from FRED.