Worksheet – Case 3 – Calculating and presenting year-on-year % change

Finding Data

US Industrial Production

To find US Industrial Production, the best approach is to start looking in Country & Region. Navigate to:

Production > Industrial Production > Production > Market Groups

Click on Total Industrial Production Index – this is the headline series, indicated by the red exclamation mark.

US ISM PMI

For the ISM Manufacturing PMI, you can do one of the following:

  1. Go to: Surveys > Business Surveys > ISM > Report on Business
  2. Use the search bar at the top of the series browser and type “US ISM PMI”

Analysis

Rate of Change

Now you need to calculate the year-on-year % change on the Industrial Production series.

  1. In the analysis tree click on “time chart” and select the rate of change analysis from the list.
  2. Adjust the calculations that will be applied to Industrial Production. The method should be set to “change over period %”, with a length of 1 year.

You don’t need to make any changes to the ISM PMI, so make sure the method is set to “none”.

Charting

Alternate Scale

To align ISM PMI to a second axis, click on the Y axis to activate the relevant settings in the presentation properties tab.  Check the setting for “Use alternate scale”.

Graph Layout

To change the chart style, you will need to use graph layout. Right click on the chart and select it from the context menu. On the right side of the window that opens, click on industrial production, and then click on Area from the options above.

If the area graph is displayed above the line, you also need to reorder the series in Graph Layout, by dragging it into the right place in the list. The series are added to the chart in the same order as the list, so the first series will be displayed beneath the second, and so on.

Synchronizing the scale of the axes

0 and 50 are two reference values for these series.  To align these value on the axes you have two options:

  1. Click on one vertical axis, and manually edit the range and step length in the Presentation Properties tab
  2. Click on one vertical axis, and use the Synchronize setting in the Presentation Properties tab.

In this case, since the series have different scales, you want to select “Grid” to synchronize the axes.