Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Connecticut
CTCPUELCPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,765.90
Year-over-Year Change
27.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) from the computer and electronic product manufacturing (NAICS 334) industry in the state of Connecticut. It provides insight into the economic performance and productivity of this key manufacturing 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: Computer and Electronic Product Manufacturing (334) in Connecticut series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is an important indicator of the health and competitiveness of Connecticut's high-tech manufacturing capabilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and price deflators.
Historical Context
This metric is closely monitored by state policymakers, industry analysts, and economic development agencies to assess Connecticut's manufacturing competitiveness and guide relevant policies.
Key Facts
- Connecticut's computer and electronics manufacturing sector accounts for over 10% of the state's total GDP.
- This industry has seen productivity growth of 3-5% annually over the past decade.
- The COVID-19 pandemic temporarily disrupted supply chains but the sector has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) from the computer and electronic product manufacturing industry (NAICS 334) in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the economic performance and productivity of this key high-tech manufacturing sector within the state, which is closely monitored by policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and price deflators.
Q: How is this trend used in economic policy?
A: This metric is closely tracked by state policymakers, industry analysts, and economic development agencies to assess Connecticut's manufacturing competitiveness and guide relevant policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Connecticut (CTCPUELCPMANRGSP), retrieved from FRED.