Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas
ARNDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,051.30
Year-over-Year Change
66.76%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) from nondurable goods manufacturing in Arkansas, which includes industries like food, beverage, textile, and petroleum manufacturing.
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 nondurable goods manufacturing GDP represents the total value of goods produced in Arkansas that are meant for immediate or short-term consumption, as opposed to durable goods that are designed to last longer. This metric is used by economists to assess the health and productivity of Arkansas's manufacturing sector.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in the state.
Historical Context
Policymakers and analysts monitor this indicator to understand the performance of Arkansas's economy and guide decisions on economic development and fiscal policy.
Key Facts
- Arkansas is a major producer of food, chemicals, and plastics.
- Nondurable goods manufacturing accounts for over 10% of Arkansas's GDP.
- This sector has seen moderate growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) from nondurable goods manufacturing in Arkansas, which includes industries like food, beverage, textile, and petroleum manufacturing.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists to assess the health and productivity of Arkansas's manufacturing sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in the state.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to understand the performance of Arkansas's economy and guide decisions on economic development and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas (ARNDURMANNGSP), retrieved from FRED.