Get the Industrial Production Index for the United States from the Federal Reserve’s G.17 statistical release (via FRED).

The Industrial Production Index measures real output in manufacturing, mining, and electric and gas utilities. Unlike survey-based sentiment indices, it is a hard, quantity-based measure of physical production and is one of the four coincident indicators the NBER’s Business Cycle Dating Committee uses to date US recessions (alongside real personal income, real manufacturing/trade sales and, see get_nonfarm_payrolls, nonfarm payroll employment).

Requires a free FRED API key, see the fred_api_key parameter of the Economics class.

See definition: https://fred.stlouisfed.org/series/INDPRO

Also known as: IP index, industrial output.

No programming experience? With the Finance Toolkit MCP server, AI assistants such as Claude and ChatGPT can calculate the Industrial Production Index for you. Just ask in plain English.

Calculate the Industrial Production Index in Python

The Industrial Production Index is available in the Economics module of the open-source Finance Toolkit. Install it with:

pip install financetoolkit -U

Then call get_industrial_production_index as shown below.

from financetoolkit import Economics

economics = Economics(start_date='2020-01-01', fred_api_key='FRED_API_KEY')

economics.get_industrial_production_index()

Which returns:

Date United States
2026-02-01 101.926
2026-03-01 101.617
2026-04-01 102.42
2026-05-01 102.561
2026-06-01 102.639

Parameters

get_industrial_production_index accepts the following parameters:

  • rolling (int, optional): The rolling window size to use for smoothing the data (simple moving average). Defaults to None.
  • trailing (int, optional): The trailing window size to use for summing the data over trailing periods. Defaults to None.
  • growth (bool, optional): Whether to return the growth data or the actual data.
  • lag (int, optional): The number of periods to lag the data by.
  • standardize (bool, optional): Whether to standardize (Z-Score) the result. When combined with growth=True, standardizes the growth values instead of the raw values. Defaults to False.
  • rounding (int | None, optional): The number of decimals to round the results to. Defaults to None.
Exchange Rates Producer Price Index Real Effective Exchange Rate Household Savings Rate Household Debt to Income Ratio Misery Index Retail Sales Housing Starts Real Personal Income Commercial Real Estate Prices Commodity Forward Curve Recession Indicator

The Economics module page introduces the module, and the sidebar lists all of its functions.

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