Gross Domestic Product: Manufacturing (31-33) in Alabama
ALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,115.20
Year-over-Year Change
56.69%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Manufacturing (31-33) in Alabama trend measures the total economic output of the manufacturing sector in the state of Alabama. This key indicator provides insights into the health and performance of Alabama's manufacturing industry.
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 Gross Domestic Product: Manufacturing (31-33) in Alabama represents the inflation-adjusted value added by the manufacturing sector to the state's overall economic production. Economists and policymakers closely monitor this metric to assess Alabama's industrial competitiveness and guide economic development strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This manufacturing GDP trend is widely used by analysts to evaluate Alabama's economic conditions and competitiveness relative to other states.
Key Facts
- Alabama's manufacturing GDP accounts for over 17% of the state's total economic output.
- The manufacturing sector employs more than 270,000 workers in Alabama.
- Alabama's manufacturing GDP has grown by over 25% in the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Manufacturing (31-33) in Alabama measures the total economic output of the manufacturing sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This manufacturing GDP trend provides key insights into the performance and competitiveness of Alabama's industrial base, which is crucial for economic development 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this manufacturing GDP trend to evaluate Alabama's economic conditions and competitiveness, informing strategies for industrial growth and workforce development.
Q: Are there update delays or limitations?
A: The Gross Domestic Product: Manufacturing (31-33) in Alabama data is typically published with a 1-2 quarter delay by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Alabama (ALMANNGSP), retrieved from FRED.