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Glossary of Statistical Definitions

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There are currently 7 definitions in this directory beginning with the letter I.
This is the acronym for Index of Industrial Production. It is a key indicator of economic performance. It measures production across the manufacturing sector and in conjunction with other data, provides information for establishing economic policies.

A good or service that is sold (import sale) to a person residing in the U.S. from a person residing abroad. Imports include government and non-government goods and services; however they exclude goods and services to the U.S. military, diplomatic, and consular institutions abroad. Imports do include goods and services that were previously exported.

Inactive Persons (CLFSS)
These include persons who may be at school, retired, incapacitated, keeping house, and do not want work though they can work. The person should have been fully in that status throughout the survey period.

Income before taxes (Consumer Expenditures)
Income before taxes is the total money earnings and selected money receipts of all consumer unit members 14 years of age or over during the 12 months prior to the interview date. It includes the following components: Wages and salaries; self-employment income; Social Security, private and government retirement; interest, dividends, rental income, and other property income; unemployment, workers? compensation and veteran?s benefits; public assistance, supplemental security income, and food stamps; regular contributions for support (including alimony and child support); other income (including cash scholarships, fellowships or stipends not based on working, and meals and rent as pay).

Index (RPI)
This is the number or figure used for comparing changes between different points of time in the price level of certain household expenditures, which indicate the standard of living of the average household.

A group of establishments that produce similar products or provide similar services. For example, all establishments that manufacture automobiles are in the same industry. A given industry, or even a particular establishment in that industry, might have employees in dozens of occupations. The Standard Industrial Classification (SIC) system groups similar establishments into industries.

Inflation has been defined as a process of continuously rising prices, or equivalently, of a continuously falling value of money.

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