Value-Added Output for Private Nonfarm in Rhode Island
Percent Change from Year Ago
IPUZNT301440000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.30
Year-over-Year Change
70.27%
Date Range
1/1/2008 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the annual percent change in industrial production. It is a key economic indicator used to assess the health and direction of the U.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
This series tracks the percent change in industrial production compared to the same month in the prior year. It provides insight into the overall growth or contraction of the industrial economy, which is an important driver of the broader U.S. economic performance.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on monthly surveys of industrial facilities.
Historical Context
Policymakers and economists monitor this trend to gauge the strength of the manufacturing industry and make informed decisions.
Key Facts
- The U.S. industrial sector accounts for nearly 20% of the nation's GDP.
- Percent Change from Year Ago reached a low of -12.7% in April 2020 due to COVID-19.
- Manufacturing is a key driver of U.S. exports and competitiveness in global markets.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' tracks the annual percent change in U.S. industrial production, providing insight into the overall growth or contraction of the manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is a critical indicator of the health and direction of the U.S. industrial economy, which is a major driver of overall economic performance. It is closely monitored by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on monthly surveys of industrial facilities across the country.
Q: How is this trend used in economic policy?
A: Policymakers and central bankers use the Percent Change from Year Ago trend to assess the strength of the manufacturing sector and make informed decisions about monetary and fiscal policies that impact the broader economy.
Q: Are there update delays or limitations?
A: The data is released monthly by the Federal Reserve with a lag of approximately one month. There may be revisions to previously published figures as additional information becomes available.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUZNT301440000), retrieved from FRED.