Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Arkansas
ARFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.10
Year-over-Year Change
29.57%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Arkansas measures the real output of this key manufacturing sector in 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
This index tracks the inflation-adjusted production volume of food, beverage, and tobacco manufacturing companies in Arkansas, a major contributor to the state's economy. Economists use this data to analyze regional economic performance and productivity trends.
Methodology
The index is calculated based on data collected by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this index to understand Arkansas' manufacturing competitiveness and the state's economic drivers.
Key Facts
- Arkansas is a top producer of poultry, rice, and other food products.
- Manufacturing accounts for over 12% of Arkansas' gross state product.
- The Food and Beverage/Tobacco sector is one of the largest manufacturing industries in the state.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the food, beverage, and tobacco manufacturing sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the productivity and competitiveness of a key manufacturing industry in Arkansas, which is crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis based on production data from manufacturing companies in Arkansas.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the health of Arkansas' manufacturing sector and inform decisions related to economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Arkansas (ARFOODBEVTOBMANQGSP), retrieved from FRED.