The trend since 2019.
The latest available read: Industrial Production YoY is at 1.08% as of July 2026. Source: FRED · INDPRO.
Why it matters.
Weak industrial production signals that manufacturers aren't ramping up, which can mean softer job creation and slower wage growth across the economy. It also suggests businesses lack confidence to invest in capacity, which typically precedes consumer slowdowns.
Where it fits.
Industrial Production YoY feeds the Growth view — one of the six areas behind the site's Macro IQ score.