Industrial Production Index (Monthly Change) vs Retail Sales (Monthly Change)
Industrial Production Index (Monthly Change) is currently -0.3% (down -1.0%). Retail Sales (Monthly Change) is currently -0.2% (down -0.4%).
| Metric | Industrial Production Index (Monthly Change) | Retail Sales (Monthly Change) |
|---|---|---|
| Current value | -0.3% | -0.2% |
| Previous reading | 0.7% | 0.2% |
| Change | -1.0% | -0.4% |
| Trend | down | down |
| Frequency | Monthly | Monthly |
| Source | Federal Reserve | U.S. Census Bureau |
| Last updated | 2026-03-18 | 2026-03-17 |
| Category | growth | consumer |
What Industrial Production Index (Monthly Change) measures
The Industrial Production Index measures the real output of manufacturing, mining, and electric and gas utilities. It is a coincident indicator that moves with the business cycle and reflects the goods-producing sector of the economy.
Industrial production fell 0.3% in March after strong February gains. Manufacturing, which accounts for about 75% of the index, has been volatile as companies adjust inventory levels. For executives in manufacturing and industrial sectors, the mixed readings suggest uneven demand rather than a clear downturn. The services sector remains the primary driver of U.S. economic growth.
What Retail Sales (Monthly Change) measures
Retail sales measures the total receipts of retail stores, covering purchases of durable and nondurable goods. It is a timely indicator of consumer demand and is closely watched for signs of economic strength or weakness.
Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data suggests consumers are pulling back on discretionary purchases while maintaining spending on essentials. E-commerce continues to gain share of total retail sales.
Frequently asked
Industrial Production Index (Monthly Change) is currently -0.3%, down -1.0% from the previous reading. Source: Federal Reserve, updated monthly.
Retail Sales (Monthly Change) is currently -0.2%, down -0.4% from the previous reading. Source: U.S. Census Bureau, updated monthly.
Industrial production fell 0.3% in March after strong February gains. Manufacturing, which accounts for about 75% of the index, has been volatile as companies adjust inventory levels. For executives i Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data sugges