Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Alabama
ALDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,445.20
Year-over-Year Change
14.70%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) generated by the durable goods manufacturing sector in Alabama. It provides insight into the state's manufacturing activity and economic performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Alabama trend tracks the inflation-adjusted value-added output of the durable goods manufacturing industry in the state. This metric is a key indicator of the manufacturing sector's contribution to Alabama's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting principles.
Historical Context
This trend is widely used by policymakers, economists, and businesses to assess the health and competitiveness of Alabama's manufacturing industry.
Key Facts
- Alabama is a major manufacturing hub in the U.S.
- Durable goods account for a significant portion of the state's economic output.
- Manufacturing plays a crucial role in Alabama's economic development
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the durable goods manufacturing sector in Alabama, providing insight into the state's manufacturing activity and economic performance.
Q: Why is this trend relevant for users or analysts?
A: This trend is highly relevant for understanding the health and competitiveness of Alabama's manufacturing industry, which is a critical driver of the state's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and businesses to assess the performance of Alabama's manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and potential revisions common to economic indicators published by government statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Alabama (ALDURMANRQGSP), retrieved from FRED.