Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Connecticut
CTNDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,146.30
Year-over-Year Change
11.86%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Connecticut. It provides valuable insights into the economic performance and productivity of this key industry 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: Nondurable Goods Manufacturing (311-316, 322-326) in Connecticut series tracks the inflation-adjusted output of the nondurable goods manufacturing industry in the state. This metric is used by economists and policymakers to assess the health and competitiveness of Connecticut's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend informs decisions related to economic development, workforce planning, and fiscal policy in Connecticut.
Key Facts
- Connecticut's nondurable goods manufacturing sector accounts for over 10% of the state's GDP.
- This industry employs more than 80,000 workers in Connecticut.
- Real GDP in nondurable goods manufacturing has grown by 5% in Connecticut over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic performance and productivity of a key industry within Connecticut, informing decisions related to economic development, workforce planning, and fiscal policy.
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: This economic trend informs decisions related to economic development, workforce planning, and fiscal policy in Connecticut.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Connecticut (CTNDURMANRQGSP), retrieved from FRED.