Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Connecticut
CTFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
165.30
Year-over-Year Change
-6.40%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Connecticut. It provides insights into the performance and growth of this key manufacturing sector within the state's economy.
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: Furniture and Related Product Manufacturing (337) in Connecticut series tracks the inflation-adjusted output of this industry, which encompasses the production of household, office, and other furniture. This data is used by economists and policymakers to analyze the state's industrial composition and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding Connecticut's manufacturing base and informing economic development strategies.
Key Facts
- Connecticut is a major furniture manufacturing hub.
- This industry accounts for a significant portion of the state's GDP.
- The trend has shown fluctuations in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the furniture and related product manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and competitiveness of a key manufacturing sector within Connecticut's economy, which is valuable for economic analysis and policymaking.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the industrial composition and competitiveness of Connecticut's economy, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Connecticut (CTFURNMANRGSP), retrieved from FRED.