Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Florida
FLNDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,215.30
Year-over-Year Change
7.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Florida measures the economic output of nondurable manufacturing industries in the state. It is an important indicator of Florida's industrial activity and economic health.
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
This series tracks the gross domestic product (GDP) of nondurable goods manufacturing sectors in Florida, including industries like food, beverage, textile, apparel, paper, and chemical production. It provides insight into the state's manufacturing base and its contribution to the overall 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 analysts use this metric to assess the performance and competitiveness of Florida's nondurable manufacturing industries.
Key Facts
- Florida's nondurable manufacturing GDP totaled $46.9 billion in 2020.
- The sector accounts for about 4% of Florida's overall economic output.
- Chemical manufacturing is the largest nondurable subsector in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of nondurable goods manufacturing industries in the state of Florida, including sectors like food, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Florida's nondurable manufacturing base, which is an important contributor to the state's overall economic activity.
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 analysts use this metric to assess the health and competitiveness of Florida's nondurable manufacturing industries, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent economic conditions. Additionally, the metric is limited to the nondurable manufacturing sector and does not capture the full scope of Florida's economy.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Florida (FLNDURMANNQGSP), retrieved from FRED.