Industrial Production
The Federal Reserve's Industrial Production index tracks the real output of the US goods-producing economy — manufacturing (~75%), mining (~15%), and utilities (~10%) — indexed to a base year. Released mid-month, it is highly sensitive to the business cycle and often turns ahead of GDP.
Latest reading
As of April 2026, Industrial Production (Industrial Production YoY %) stands at 1.4% — up from 0.7% the prior reading. Focus on the year-over-year rate and sustained trends rather than single-month moves, which can be noisy. Positive and accelerating growth marks expansion; a slide into negative territory has accompanied every industrial recession. It generally moves in step with manufacturing surveys like the ISM, and divergences from those surveys are worth a second look. Series history runs from 1919 to present.
Industrial Production YoY %
Next release: TBD
Full history
How to read it
Focus on the year-over-year rate and sustained trends rather than single-month moves, which can be noisy. Positive and accelerating growth marks expansion; a slide into negative territory has accompanied every industrial recession. It generally moves in step with manufacturing surveys like the ISM, and divergences from those surveys are worth a second look.
Methodology & data
Industrial Production is sourced from Fed via the Federal Reserve's FRED service (Federal Reserve via FRED (INDPRO), monthly, seasonally adjusted). We pull the complete history, chart it on a monthly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-06-09. See our methodology for the standards every series on the site is held to.
- Category
- Growth
- Frequency
- Monthly
- Source
- Fed
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Frequently asked questions
What is the Industrial Production?
The Federal Reserve's Industrial Production index tracks the real output of the US goods-producing economy — manufacturing (~75%), mining (~15%), and utilities (~10%) — indexed to a base year. Released mid-month, it is highly sensitive to the business cycle and often turns ahead of GDP.
How do you read Industrial Production?
Focus on the year-over-year rate and sustained trends rather than single-month moves, which can be noisy. Positive and accelerating growth marks expansion; a slide into negative territory has accompanied every industrial recession. It generally moves in step with manufacturing surveys like the ISM, and divergences from those surveys are worth a second look.
Where does the Industrial Production data come from?
Federal Reserve via FRED (INDPRO), monthly, seasonally adjusted. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/industrial-production.csv.
How often is Industrial Production updated?
Industrial Production is a monthly series from Fed, refreshed here as soon as a new release posts to FRED.