Real Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas
ARWPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,360.10
Year-over-Year Change
46.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas measures the economic output of the wood manufacturing industry in the state, providing insights into the health and productivity of this key sector.
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 economic indicator tracks the real, inflation-adjusted value added by the wood product manufacturing industry in Arkansas, which includes establishments engaged in sawmilling, wood preservation, and manufacturing of wood products. It is a useful metric for analyzing the state's industrial composition and manufacturing competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production indices and other sources.
Historical Context
This trend is closely monitored by policymakers, industry groups, and economic analysts to assess the performance and outlook of Arkansas's manufacturing base.
Key Facts
- Arkansas is a leading producer of wood products in the U.S.
- The wood manufacturing industry accounts for over 10% of the state's GDP.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real, inflation-adjusted gross domestic product (GDP) of the wood product manufacturing industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: The real GDP of the wood manufacturing sector provides valuable insights into the productivity, competitiveness, and overall health of this important industry within Arkansas's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production indices and other sources.
Q: How is this trend used in economic policy?
A: Policymakers, industry groups, and economic analysts closely monitor this trend to assess the performance and outlook of Arkansas's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Arkansas
ARPROBUSNQGSP
State Tax Collections: T99 Taxes, Not Elsewhere Classified for Arkansas
QTAXT99QTAXCAT3ARNO
Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Arkansas
ARPCEPCVEH
Regional Price Parities: All Items for Arkansas
ARRPPALL
Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Arkansas
SMU05000003100000007A
All Employees: Food Services and Drinking Places in Arkansas
SMU05000007072200001A
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wood Product Manufacturing (321) in Arkansas (ARWPMANRGSP), retrieved from FRED.