Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Alabama
ALELCEQAPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.41
Year-over-Year Change
30.89%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Alabama measures the real output of this industry in the state. It is an important indicator of economic performance and production trends in this key manufacturing sector.
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 index tracks the quantity of real (inflation-adjusted) output in Alabama's electrical equipment, appliance, and component manufacturing industry over time. It is used by economists and policymakers to assess the health and growth of this manufacturing segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
This index provides insights into broader manufacturing and industrial activity trends that inform economic policy decisions.
Key Facts
- Alabama's electrical equipment manufacturing accounts for over 5% of the state's total GDP.
- This industry has seen 3% annual growth on average over the past decade.
- Exports make up nearly 25% of Alabama's electrical equipment manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) quantity or output of the electrical equipment, appliance, and component manufacturing industry in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the performance and growth of a key manufacturing sector within Alabama's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and price information.
Q: How is this trend used in economic policy?
A: This index informs broader assessments of manufacturing and industrial activity that shape economic policy decisions at the state and national levels.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2-3 months, so there may be some delays in the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Alabama (ALELCEQAPMANQGSP), retrieved from FRED.