Industrial production refers to the output of the industrial sector of the economy, which includes manufacturing, mining, and utilities. It measures the total output of physical goods and materials produced by factories, mines, and other industrial facilities in a given time period.
Industrial production is a key indicator of the health and strength of the industrial sector of the economy. It is used to gauge the level of economic activity, as well as the capacity utilization of industrial firms. Increases in industrial production generally indicate higher levels of economic activity and growth, while decreases can indicate a slowing or contracting economy.
The Federal Reserve releases a monthly report on industrial production, which includes data on manufacturing, mining, and utility output. This report is closely watched by economists, policymakers, and investors as it can provide insights into overall economic trends and can impact financial markets.
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