INDPROFRED: INDPROMacro
Industrial Production Index
산업생산지수
1. Definition
Federal Reserve's monthly index measuring manufacturing, mining, and utility output. 2017 = 100. The most direct signal of real economic activity.
2. Reading Guide
Aligned with ISM PMI. *3-month moving average* indicates trend. Negative entry = late-cycle confirmation.
3. ETF Trading Implications
Slowdown → reduce industrials (XLI), materials (XLB). Recovery → expand cyclicals.
4. Related ETFs
6. Frequently Asked Questions
Q. Is industrial production faster than GDP?▼
Yes. Monthly vs quarterly. But without *services*, it only covers ~20% of US GDP. Use as secondary indicator.
Q. Should I watch Capacity Utilization too?▼
Yes. *Above 80% utilization* signals inflation pressure + late cycle. Below 70% = imminent recession.
Source · License
Source: Federal Reserve
License: 공공 데이터 (월 1회)
API: FRED INDPRO