Tracking types of industrial production
This FRED graph shows three very different stories for three different types of goods production in the U.S. The clothing sector dominated the other two for about 60 of the 70 years shown in this sample, only to collapse in the first decade of the millennium and slowly decline thereafter. This shift is a direct consequence of cheaper manufacturing opportunities abroad. The automotive products sector has been steadily increasing its output, except for some hard times during the financial crisis, when car manufacturers were struggling. Occasionally, short dips occurred during strikes in the car industry. Finally, the electronics sector comes out of nowhere in the 1990s to establish itself as a core component of American industry.
How this graph was created: Search for the release table for the Industrial Production index by market and industry group, select the series shown here (or those you’d like to see), and click “Add to Graph.”
Suggested by Christian Zimmermann.
View on FRED, series used in this post: