This project utilizes data from the Board of Governors of the Federal Reserve System's G.17 Industrial Production and Capacity Utilization release. This dataset provides valuable insights into the industrial sector's output, encompassing manufacturing, mining, and utilities, which serves as a key economic performance indicator.
The provided dataset measures the real output of electric and gas utility industries in the United States, indexed to a base year of 2017 (2017=100). The data is presented in monthly intervals and is not seasonally adjusted, meaning it reflects raw production levels without accounting for seasonal fluctuations, such as weather-related changes.
Our objective is to develop an ARIMA model using the provided dataset to forecast future production units and simulate production levels for prospective requirements, enabling informed decision-making and planning in the electric and gas utilities sector.
For more information on the dataset, please refer to the Federal Reserve Economic Data (FRED) website, specifically the series "Industrial Production: Utilities: Electric and Gas Utilities (NAICS = 2211,2)" with the identifier IPG2211A2N.
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