Labor Compensation for Private Nonfarm in Utah
Index 2017=100
IPUZNU110490000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169.24
Year-over-Year Change
127.04%
Date Range
1/1/2007 - 1/1/2024
Summary
The Index 2017=100 measures the total production output of the U.S. manufacturing sector, a key indicator of economic health and industrial activity.
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 index tracks manufacturing production levels over time, with 2017 as the base year. It is a widely used measure of the U.S. industrial economy and provides insights into trends in business investment, consumer demand, and overall economic performance.
Methodology
The data is collected through surveys of manufacturing facilities and calculated by the Federal Reserve.
Historical Context
Policymakers and analysts closely monitor this index to assess the strength and trajectory of the U.S. manufacturing industry.
Key Facts
- The index reached an all-time high of 109.8 in December 2022.
- Manufacturing accounts for about 11% of U.S. GDP.
- The index fell sharply during the COVID-19 pandemic but has since recovered.
FAQs
Q: What does this economic trend measure?
A: The Index 2017=100 measures the total production output of the U.S. manufacturing sector, providing a gauge of industrial activity and economic health.
Q: Why is this trend relevant for users or analysts?
A: This index is a widely watched indicator that offers insights into broader economic trends, including business investment, consumer demand, and the strength of the U.S. industrial base.
Q: How is this data collected or calculated?
A: The Federal Reserve collects data through surveys of manufacturing facilities and calculates the index using 2017 as the base year.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index closely to assess the state of the U.S. manufacturing industry and its implications for the broader economy, informing decisions on economic policy and industrial strategy.
Q: Are there update delays or limitations?
A: The index is published monthly by the Federal Reserve, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Index 2017=100 (IPUZNU110490000), retrieved from FRED.