Industrial Production Index (Monthly Change) vs 2-Year Treasury Yield
Industrial Production Index (Monthly Change) is currently -0.3% (down -1.0%). 2-Year Treasury Yield is currently 3.7% (down -0.3%).
| Metric | Industrial Production Index (Monthly Change) | 2-Year Treasury Yield |
|---|---|---|
| Current value | -0.3% | 3.7% |
| Previous reading | 0.7% | 3.99% |
| Change | -1.0% | -0.3% |
| Trend | down | down |
| Frequency | Monthly | Daily |
| Source | Federal Reserve | U.S. Treasury |
| Last updated | 2026-03-18 | 2026-04-04 |
| Category | growth | rates |
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 2-Year Treasury Yield measures
The 2-year Treasury yield reflects market expectations for short-term interest rates over the next two years. It is the most sensitive government bond to Federal Reserve policy changes.
The 2-year yield at 3.71% — well below the current fed funds rate of 4.50% — signals that markets expect the Fed to cut rates. The wider this gap, the more aggressively markets expect easing. For CFOs, short-term borrowing costs may decline sooner than long-term rates, favoring shorter-duration financing strategies.
Frequently asked
Industrial Production Index (Monthly Change) is currently -0.3%, down -1.0% from the previous reading. Source: Federal Reserve, updated monthly.
2-Year Treasury Yield is currently 3.7%, down -0.3% from the previous reading. Source: U.S. Treasury, updated daily.
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 The 2-year yield at 3.71% — well below the current fed funds rate of 4.50% — signals that markets expect the Fed to cut rates. The wider this gap, the more aggressively markets expect easing. For CFOs