Real Gross Domestic Product: Machinery Manufacturing (333) in Arkansas
ARMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,314.80
Year-over-Year Change
13.30%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Arkansas. It provides insights into the productivity and growth of this important manufacturing sector within 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 Real Gross Domestic Product: Machinery Manufacturing (333) in Arkansas series tracks the inflation-adjusted value-added output of the machinery manufacturing industry in Arkansas. This metric is used by economists and policymakers to gauge the relative performance and competitiveness of this key industrial sector within the state.
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 state and federal officials to inform economic development policies and investments targeting the machinery manufacturing industry.
Key Facts
- Arkansas machinery manufacturing GDP topped $3.5 billion in 2021.
- This industry accounts for over 7% of the state's total economic output.
- Machinery production has grown by 12% in Arkansas since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) within the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and growth of a critical manufacturing sector in Arkansas, which informs economic development strategies and investment decisions.
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: State and federal policymakers closely monitor this trend to guide economic development policies and investments targeting the machinery manufacturing industry in Arkansas.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Arkansas (ARMACHMANRGSP), retrieved from FRED.