Gross Domestic Product: Machinery Manufacturing (333) in Arkansas
ARMACHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,806.00
Year-over-Year Change
83.35%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Arkansas. It provides important insights into the performance and contribution of this key manufacturing sector to the state's 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
The Gross Domestic Product: Machinery Manufacturing (333) in Arkansas series tracks the economic output of the machinery manufacturing industry, which includes the production of a wide range of industrial and commercial machinery. This metric is used to analyze the strength and competitiveness of Arkansas' manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely watched by policymakers, economists, and industry analysts to assess the health and outlook of Arkansas' manufacturing sector.
Key Facts
- Arkansas is a major hub for machinery manufacturing.
- The sector accounts for over 10% of the state's total GDP.
- GDP in this industry has grown by 5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector in Arkansas, which is closely watched by policymakers, economists, 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 as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and outlook of Arkansas' manufacturing sector, which is a critical component of the state's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay, which is standard for regional GDP estimates.
Related Trends
90% Confidence Interval Upper Bound of Estimate of Percent of Related Children Age 5-17 in Families in Poverty for Arkansas
PPCIUB5T17AR05000A156NCEN
Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arkansas
ARARTENTRECQGSP
Construction Earnings in Arkansas
ARECON
Gross Domestic Product: Transportation and Utilities (22, 48-49) in Arkansas
ARTRANSUTILNGSP
Number of Identified Exporters to Japan from Arkansas
ARJPNA475SCEN
Exports of Goods for Arkansas
EXPTOTAR
Citation
U.S. Federal Reserve, Gross Domestic Product: Machinery Manufacturing (333) in Arkansas (ARMACHMANNGSP), retrieved from FRED.