Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Florida
FLFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
701.60
Year-over-Year Change
19.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the furniture and related product manufacturing industry in Florida. It provides insights into the economic performance and growth 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: Furniture and Related Product Manufacturing (337) in Florida series tracks the inflation-adjusted economic output of this industry within the state. It is a valuable indicator of Florida's manufacturing competitiveness and the broader health of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by policymakers, industry analysts, and investors to assess Florida's manufacturing capabilities and outlook.
Key Facts
- Florida is a major center for furniture production in the U.S.
- The furniture industry contributes billions to Florida's GDP annually.
- Trends in this sector reflect the state's manufacturing competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the furniture and related product manufacturing industry in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the performance and growth of a key manufacturing sector in Florida, which is crucial for assessing the state's economic competitiveness and overall economic health.
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 trend is closely monitored by policymakers, industry analysts, and investors to evaluate Florida's manufacturing capabilities and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in reporting.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Florida (FLFURNMANRGSP), retrieved from FRED.