What is it?
Industrial production index (IPRO) is a monthly measure of output of the industrial sector (manufacturing, mining, and utilities) of the economy as reported by the Federal Reserve. It is also a measure of capacity and capacity utilization. Currently the base year is 2012 with a value of 100. Industrial production year-over-year change (IPROG) is a percent change in IPRO from the same month in the previous year. i.e. Industrial production was 107.3 in May of 2018 and 103.67 in May of 2017. The IPROG would be 3.5% for May 2018.
Who is interested?
Analysts, High level executives, owner operators
What does it tell me?
If IPRO is too high or increases too much that could be a signal of overheating and inflation. If IPRO decreases too much or too quickly that could be a sign of low demand and the Federal Reserve may consider economic stimulus.
Example: A user wants to see the industrial production change in the country year over year. They would enter IPROG.USA.