Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Alabama
ALNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.89
Year-over-Year Change
3.57%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Alabama measures the real output of the nondurable goods manufacturing sector in the state. This indicator is crucial for understanding the health and trends of Alabama's manufacturing 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
This index tracks the inflation-adjusted production volumes of nondurable goods manufacturers in Alabama, including industries like food, beverage, textile, and paper production. It provides a comprehensive gauge of manufacturing activity in the state and is used by policymakers and analysts to assess economic conditions.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments.
Historical Context
This metric informs economic policy decisions and market analysis related to Alabama's industrial performance.
Key Facts
- Alabama is a major center of nondurable goods production.
- The index has shown steady growth since the early 2000s.
- Nondurable manufacturing accounts for over 10% of Alabama's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of nondurable goods manufacturers in Alabama, including industries like food, beverage, textile, and paper production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive gauge of manufacturing activity in Alabama, which is a crucial sector of the state's economy. It informs economic policy and market analysis related to the state's industrial performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments in Alabama.
Q: How is this trend used in economic policy?
A: This index is used by policymakers and analysts to assess the health and trends of Alabama's manufacturing economy, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the release of this data, and the index may not capture all aspects of nondurable goods production in the state.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Alabama (ALNDURMANQGSP), retrieved from FRED.