Industrial Production (INDPRO)

What it is

The Industrial Production Index (FRED series INDPRO, base 2017 = 100), a monthly measure of U.S. industrial output including manufacturing, mining, and utilities.

Why it matters

It adds real-economy production context. Stronger levels reflect firmer industrial output; weaker levels reflect softening production relative to the 2017 baseline.

How to read it here

• Green: index ≥ 103 — firm industrial output
• Yellow: 98 ≤ index < 103 — softer production, worth monitoring
• Red: index < 98 — notable pullback from the 2017 baseline
• Monthly series from FRED INDPRO. This is a contextual signal, not a forecast