Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arkansas
ARDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,209.00
Year-over-Year Change
44.44%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arkansas tracks the real output of the durable goods manufacturing sector in the state. This indicator is important for understanding the overall health and competitiveness of Arkansas'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
This series measures the real, inflation-adjusted value added by the durable goods manufacturing industries in Arkansas, including sectors like wood products, machinery, and transportation equipment. It is a key indicator of the productivity and economic contribution of this vital component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Policymakers and analysts use this trend to gauge the performance and competitive position of Arkansas's manufacturing base relative to national trends and other states.
Key Facts
- Arkansas is a major manufacturing hub, accounting for over 13% of the state's GDP.
- Durable goods make up around 60% of total manufacturing output in Arkansas.
- This indicator has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the real, inflation-adjusted value added by the durable goods manufacturing industries in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and competitiveness of a key sector of Arkansas's economy, which has important implications for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to gauge the performance and competitive position of Arkansas's manufacturing base relative to national trends and other states.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arkansas (ARDURMANRGSP), retrieved from FRED.