Hours Worked for Educational Services: Colleges, Universities, and Professional Schools (NAICS 6113) in the United States
Percent Change from Year Ago
IPUQN6113L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.80
Year-over-Year Change
-78.95%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend tracks the year-over-year percent change in the U.S. Industrial Production Index. This key indicator provides insight into the health and direction of the nation's 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
The Industrial Production Index (IPI) measures the real output of U.S. manufacturing, mining, and electric and gas utilities. The 'Percent Change from Year Ago' statistic shows the relative growth or contraction in this production compared to the same period in the prior year, offering a valuable perspective on industrial activity trends.
Methodology
The Federal Reserve calculates the IPI based on survey data from manufacturers, utilities, and mining companies.
Historical Context
Economists and policymakers closely monitor the 'Percent Change from Year Ago' to assess the broader state of the U.S. economy and its manufacturing base.
Key Facts
- The IPI covers around 75% of the total industrial output of the United States.
- Percent changes are calculated by comparing the current month's index to the same month a year earlier.
- Industrial production has a major influence on GDP and other key economic indicators.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' trend tracks the annual growth or decline in the U.S. Industrial Production Index, a key indicator of manufacturing, mining, and utilities output.
Q: Why is this trend relevant for users or analysts?
A: The IPI 'Percent Change' offers crucial insight into the overall health and direction of the U.S. industrial sector, which has significant implications for the broader economy.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates the Industrial Production Index based on monthly surveys of manufacturers, mines, and utilities.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts closely monitor the 'Percent Change from Year Ago' to gauge the strength of the manufacturing economy and inform decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Industrial Production Index data is released monthly by the Federal Reserve with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUQN6113L201000000), retrieved from FRED.