macro
Industrial Production · Metal Ore Mining (US)
Latest
80.22Index 2017=100
Methodology
## What this measures
The volume of metal ore US mines produce each month: copper, gold, iron, silver and other metals.
## Why it matters
Output is the numerator of productivity. Read it against mining employment: output rising while jobs hold flat or fall is automation and scale showing up; output falling while jobs hold is declining ore grades or disruption.
## How to read it
Higher means more output. It is a volume index, so price swings don't move it.
## What it does not say
It covers the US only and doesn't separate metals.
## Source
Board of Governors of the Federal Reserve System, Industrial Production (G.17), series IPG2122S, via FRED. Public domain.
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