Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arkansas
ARAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.20
Year-over-Year Change
-8.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Arkansas. It provides insights into the economic performance of this key manufacturing sector within the state.
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: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arkansas series tracks the inflation-adjusted output of this industry, which includes the production of clothing, footwear, and related textile products. This metric is useful for analyzing the overall health and competitiveness of Arkansas's manufacturing capabilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Historical Context
Policymakers and industry analysts closely monitor this trend to understand the market dynamics and competitiveness of Arkansas's apparel and leather manufacturing sector.
Key Facts
- Arkansas is a major producer of apparel, leather, and textile goods.
- This industry accounts for a significant portion of the state's manufacturing GDP.
- Real GDP in this sector has fluctuated in recent years due to global market changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and competitiveness of a key manufacturing sector within Arkansas, which is useful for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to understand the market dynamics and competitiveness of Arkansas's apparel and leather manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to the standard update schedule and limitations of the U.S. Bureau of Economic Analysis GDP statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arkansas (ARAPPLEATHMANRGSP), retrieved from FRED.