Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas
ARWPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,178.10
Year-over-Year Change
224.27%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas measures the total economic output of the wood product manufacturing industry in the state. This metric is important for understanding trends in Arkansas's manufacturing sector and regional economic performance.
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: Wood Product Manufacturing (321) in Arkansas represents the total value added by the wood product manufacturing industry to the state's overall economic output. It captures the contributions of businesses engaged in the production of wood products, such as lumber, plywood, and other wood materials.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
The wood product manufacturing GDP trend is used by policymakers, economists, and businesses to analyze the health and competitiveness of Arkansas's manufacturing industry.
Key Facts
- Arkansas is a major producer of wood products in the United States.
- The wood product manufacturing industry accounts for a significant portion of the state's overall economic output.
- Trends in this metric can indicate the competitiveness and growth of Arkansas's manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas measures the total economic output of the wood product manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the performance and competitiveness of Arkansas's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this trend to analyze the health and competitiveness of Arkansas's manufacturing industry, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to regular updates from the U.S. Bureau of Economic Analysis, but may have some delay in publication compared to real-time economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas (ARWPMANNGSP), retrieved from FRED.