Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Arkansas
ARFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265.70
Year-over-Year Change
72.31%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in Arkansas. It provides insights into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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: Furniture and Related Product Manufacturing (337) in Arkansas metric tracks the total value of goods and services produced by this industry within the state. It is a key indicator of the sector's economic health and its role in Arkansas's broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development agencies to assess the competitiveness and growth potential of Arkansas's furniture manufacturing industry.
Key Facts
- Arkansas is a major furniture manufacturing hub in the United States.
- The furniture industry accounts for a significant portion of the state's manufacturing GDP.
- This metric tracks the economic performance of a key industrial sector in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of a key manufacturing sector in Arkansas, which is useful for policymakers, industry analysts, and economic development agencies.
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: This trend is closely monitored by policymakers, industry analysts, and economic development agencies to assess the competitiveness and growth potential of Arkansas's furniture manufacturing industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and limitations as other economic indicators published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Arkansas (ARFURNMANNGSP), retrieved from FRED.