Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas
ARNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.35
Year-over-Year Change
28.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas measures the volume of production in Arkansas's nondurable manufacturing sector. This metric is a key indicator of economic activity and productivity within 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 real output of nondurable goods manufacturing industries in Arkansas, including food, beverage, textile, apparel, paper, and chemical production. It is used by economists and policymakers to analyze trends in Arkansas's industrial base and the broader state economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturers.
Historical Context
This index provides important context for evaluating Arkansas's economic performance and competitiveness.
Key Facts
- Arkansas's nondurable manufacturing sector accounts for over 10% of the state's GDP.
- This index has shown steady growth over the past decade, indicating the resilience of Arkansas's industrial base.
- Nondurable goods manufacturing employs over 60,000 workers in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of nondurable goods manufacturing industries in the state of Arkansas, including food, textile, paper, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the performance and competitiveness of a vital sector of Arkansas's economy, helping analysts and policymakers evaluate the state's industrial base and economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturers in Arkansas.
Q: How is this trend used in economic policy?
A: This index is used by economists, government agencies, and businesses to monitor Arkansas's industrial productivity and competitiveness, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Federal Reserve, with a typical 2-3 month lag between the end of the reference period and publication.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas (ARNDURMANQGSP), retrieved from FRED.