Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region
GLAKMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,882.30
Year-over-Year Change
39.47%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region measures the economic output of the miscellaneous manufacturing sector in this geographic area. This metric is crucial for analyzing regional economic trends and supporting effective policymaking.
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
This series represents the total value of goods and services produced by the miscellaneous manufacturing industry in the Great Lakes Bureau of Economic Analysis (BEA) region, which encompasses Illinois, Indiana, Michigan, Ohio, and Wisconsin. It is an important indicator of industrial activity and a key component of the region's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists closely monitor this trend to understand the health and dynamics of the manufacturing sector, which is a significant driver of economic growth in the Great Lakes region.
Key Facts
- The Great Lakes region accounts for over 25% of total U.S. manufacturing output.
- Miscellaneous manufacturing encompasses a diverse range of products, from medical equipment to office supplies.
- This sector has seen steady growth in the Great Lakes region over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced by the miscellaneous manufacturing industry in the Great Lakes BEA region, which includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for analyzing regional economic trends and supporting effective policymaking, as the manufacturing sector is a significant driver of growth in the Great Lakes region.
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: Policymakers and economists closely monitor this trend to understand the health and dynamics of the manufacturing sector, which is a significant driver of economic growth in the Great Lakes region.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions to account for new information.
Related Trends
Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in the Great Lakes BEA Region
GLAKELCEQAPMANQGSP
Real Gross Domestic Product: Paper Manufacturing (322) in the Great Lakes BEA Region
GLAKPAPMANRGSP
Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in the Great Lakes BEA Region
GLAKADMINWASTRGSP
Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Great Lakes BEA Region
GLAKPCERECGD
Gross Domestic Product: Utilities (22) in the Great Lakes BEA Region
GLAKUTILNGSP
Personal Consumption Expenditures: Goods for Great Lakes BEA Region
GLAKPCEG
Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region (GLAKMISCMANNGSP), retrieved from FRED.