Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Colorado
COAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.70
Year-over-Year Change
72.89%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Colorado. It provides insights into the economic performance and productivity of this sector 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
The Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Colorado series tracks the inflation-adjusted output of this industry, which includes the production of clothing, accessories, and leather goods. This metric is useful for analyzing the competitive position and growth dynamics of this manufacturing segment within the Colorado economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts monitor this trend to gauge the health and competitiveness of Colorado's apparel and leather manufacturing sector.
Key Facts
- Colorado's apparel and leather manufacturing sector accounts for over 10,000 jobs.
- This industry's real GDP in Colorado has grown by 25% over the past decade.
- Apparel and leather products make up around 3% of Colorado's total manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and productivity of Colorado's apparel and leather manufacturing sector, which is an important part of the state's overall manufacturing base.
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: Policymakers and industry analysts monitor this trend to gauge the health and competitiveness of Colorado's apparel and leather manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a short delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Colorado (COAPPLEATHMANRGSP), retrieved from FRED.