Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Florida
FLFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,454.00
Year-over-Year Change
3.47%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industries in the state of Florida. It provides insight into the performance and growth of this important 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: Food and Beverage and Tobacco Product Manufacturing (311-312) in Florida series tracks the inflation-adjusted economic output of these industries in the state. It is a key indicator of the sector's productivity and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by policymakers, industry analysts, and business leaders to assess the health and trajectory of Florida's manufacturing base.
Key Facts
- Florida is a major hub for food, beverage, and tobacco manufacturing.
- This sector accounts for over 10% of the state's total manufacturing GDP.
- Real GDP in this industry has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industries in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of an important manufacturing sector in Florida, which is closely watched by policymakers, industry analysts, and business leaders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and trajectory of Florida's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be some delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Florida (FLFOODBEVTOBMANRGSP), retrieved from FRED.