Indicators IQThe US economy, tracked and explained.
Home › Methodology

Where the data comes from.

Every figure on this site traces back to a primary-source series and a stated transformation. We track 32 indicators from FRED and the Bureau of Economic Analysis, and each one is covered on a page for the part of the economy it belongs to.

The 32 indicators.

Source series are the exact identifiers the pipeline pulls.

IndicatorSource seriesShown asWhat it measures
Inflation & the Fed5 indicators
CPI Inflation FRED · CPIAUCSL Change from a year earlier, % Derived from CPIAUCSL monthly observations
Core PCE Inflation FRED · PCEPILFE Change from a year earlier, % Derived from Core PCE monthly observations
Fed Funds Rate FRED · DFEDTARU Month-end level, % Fed funds target rate upper bound (daily, resampled monthly)
Real Policy Rate derived Derived from other indicators Computed as fed funds rate minus core PCE inflation
10Y-3M Yield Curve FRED · T10Y3M Level, % 10-year minus 3-month Treasury yield, daily
Jobs & Labor7 indicators
Unemployment Rate FRED · UNRATE Level, % Monthly unemployment rate
Nonfarm Payroll Change FRED · PAYEMS Monthly change, thousands Monthly payroll change
JOLTS Job Openings FRED · JTSJOL Level, millions JOLTS openings in millions
Quits Rate FRED · JTSQUR Level, % JOLTS quits rate
Initial Jobless Claims FRED · ICSA Level Initial jobless claims weekly level
Average Hourly Earnings YoY FRED · CES0500000003 Change from a year earlier, % Average hourly earnings YoY
U-6 Underemployment Rate FRED · U6RATE Level, % U-6 unemployment rate
Growth5 indicators
GDP Growth BEA · A191RL Annualized quarterly growth, % Real GDP growth, seasonally adjusted annual rate
Real GDP Per Capita YoY FRED · A939RX0Q048SBEA Change from a year earlier, % Real GDP per capita, quarterly YoY pct change
Industrial Production YoY FRED · INDPRO Change from a year earlier, % Industrial production YoY
Capacity Utilization FRED · TCU Level, % Capacity utilization
Manufacturing Output YoY FRED · IPMANSICS Change from a year earlier, % Manufacturing output, change from a year earlier
Housing6 indicators
30-Year Mortgage Rate FRED · MORTGAGE30US Level, % Weekly Freddie Mac 30-year fixed rate
Median Home Price FRED · MSPUS Level, $ Median sales price of houses sold
Existing Home Sales FRED · EXHOSLUSM495S Level, millions Existing home sales in millions
Home Price Growth YoY FRED · CSUSHPISA Change from a year earlier, % Case-Shiller national home price index YoY
Housing Starts FRED · HOUST Level, thousands New privately owned housing units started, annual rate
Months Supply of New Homes FRED · MSACSR Level, months Months supply of new houses
Consumer4 indicators
Consumer Sentiment FRED · UMCSENT Index level University of Michigan consumer sentiment
Retail Sales YoY FRED · RSXFS Change from a year earlier, % Retail sales excluding food services YoY
Real Disposable Income YoY FRED · DSPIC96 Change from a year earlier, % Real disposable personal income YoY
Personal Savings Rate FRED · PSAVERT Level, % Personal savings rate
Credit4 indicators
HY Credit Spread (OAS) FRED · BAMLH0A0HYM2 Level, % ICE BofA US high-yield bond spread over Treasuries, daily
Baa-10Y Credit Spread FRED · BAA10Y Level, % Moody's Baa corporate bond yield minus the 10-year Treasury, daily
Credit Card Delinquency Rate FRED · DRCCLACBS Level, % Share of credit card balances 30+ days past due at commercial banks
Consumer Credit Growth FRED · TOTALSL Change from a year earlier, % Total consumer credit growth YoY
Outlook1 indicators
BBK Leading Index FRED · BBKMLEIX Index level Brave-Butters-Kelley index of economic activity

How the data is refreshed.

Release-driven, with revisions followed rather than ignored.

Release days

A scheduler checks the release calendar every day. On a release day it pulls the new data at 3 PM ET and tries again at 6 PM ET, then the next day, until the source has published.

Revisions

Each refresh re-pulls the last two years of every FRED series, so revised history replaces the old values. Agencies also revise on their own schedule, such as BEA's annual GDP revisions, and the site follows them.

Gaps and lags

A month an agency did not publish, such as October 2025 for CPI and several BLS series, is shown as a gap, never as zero. Consumer sentiment reaches us through FRED, which posts the University of Michigan survey about a month after the headline release, so its latest value trails the headline.

How figures are compared.

The same conventions apply on every page.

Changes

Monthly and quarterly series compare the latest reading with the previous one. Weekly and daily series (the mortgage rate, jobless claims, credit spreads and the yield curve) compare with a week earlier. "A year ago" means the same month a year earlier.

Rounding

Differences are computed from the stored, unrounded values and then rounded, so a gap can differ by 0.01 from subtracting two rounded figures.

Definitions

Median home price is the Census/HUD median sales price of new houses sold. The home price index is the Case-Shiller national index. The Fed funds rate is the upper bound of the target range.

How the write-ups are checked.

Numbers come from the data; words are checked against it.

Figures

Charts, tables and release dates are computed from the stored data every time a page loads, so they update with each release.

Analysis

The written analysis is drafted in plain English. Every number in it must match the stored data, and an independent review recomputes each claim before it is published. Each page shows the date its analysis was written, because the words can lag a release until they are updated.