Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Connecticut
CTPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.70
Year-over-Year Change
9.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures real gross domestic product (GDP) for the petroleum and coal products manufacturing industry in the state of Connecticut. It provides insights into the economic performance 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 Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Connecticut series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is a useful indicator of the industry's health and competitiveness within the broader Connecticut economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and investors to gauge the state's manufacturing competitiveness and economic diversification.
Key Facts
- Connecticut is a major producer of refined petroleum and coal products.
- This industry accounts for a significant share of the state's total manufacturing output.
- Real GDP in this sector has fluctuated in recent years due to energy market dynamics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the petroleum and coal products manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of a key manufacturing sector in Connecticut, which is important for understanding the state's economic composition and competitiveness.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this trend to gauge Connecticut's manufacturing competitiveness and economic diversification.
Q: Are there update delays or limitations?
A: The data may have some lag in its reporting due to the time required for data collection and processing by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Connecticut (CTPETCOALMANRGSP), retrieved from FRED.