Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Connecticut
CTAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.80
Year-over-Year Change
-24.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) contribution of the apparel, leather, and allied product manufacturing industry in the state of Connecticut. It provides insight into the economic activity and productivity of this key manufacturing 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
The Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Connecticut series tracks the value-added output of this industry group within the state's overall economic production. It is an important indicator for understanding the health and competitiveness of Connecticut's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This industry-level GDP data informs economic policymakers and analysts about trends in Connecticut's manufacturing sector and its contribution to the state's economic growth.
Key Facts
- Connecticut's apparel, leather, and allied product manufacturing GDP was $1.31 billion in 2021.
- This industry accounted for 0.6% of Connecticut's total gross domestic product in 2021.
- GDP in this sector has declined by 18% in Connecticut since 2012.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) contribution of the apparel, leather, and allied product manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides important insights into the health and competitiveness of Connecticut's manufacturing base, which is crucial for understanding the state's overall economic performance.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This GDP data for Connecticut's apparel, leather, and allied product manufacturing industry informs economic policymakers and analysts about trends in the state's manufacturing sector and its contribution to overall economic growth.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 2-3 months after the end of each quarter, and may be subject to revisions as more complete information becomes available.
Related Trends
Not in Labor Force: Discouraged Workers for Connecticut
DISCWORKCT
Real Estate, Rental and Leasing Wages and Salaries in Connecticut
CTWREA
Business Formations Within Four Quarters: Total for All NAICS in Connecticut
BFBF4QTOTALNSACT
All Employees: Wholesale Trade in Connecticut
SMU09000004100000001A
Real Gross Domestic Product: Chemical Manufacturing (325) in Connecticut
CTCHEMMANRGSP
Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut
CTADMINWASTRQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Connecticut (CTAPPLEATHMANNGSP), retrieved from FRED.