Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Connecticut
CTTEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
161.10
Year-over-Year Change
30.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the textile mills and textile product mills industry in Connecticut. It provides insights into the performance and economic contribution of this important 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 Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Connecticut trend tracks the total economic output of this industry in the state. It is a key indicator of the sector's productivity, competitiveness, and contribution to the overall Connecticut economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and industry analysts use this trend to understand the health and competitiveness of Connecticut's textile manufacturing industry.
Key Facts
- Connecticut is a major textile manufacturing hub in the U.S.
- Textile mills account for over 5% of the state's total GDP.
- This industry employs more than 15,000 workers in Connecticut.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the textile mills and textile product mills industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: The textile manufacturing industry is a key part of Connecticut's economy, and this trend provides important insights into its performance and economic contribution.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to understand the health and competitiveness of Connecticut's textile manufacturing industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical 2-3 month delay in release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Connecticut (CTTEXTNGSP), retrieved from FRED.