Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Florida
FLNDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,809.80
Year-over-Year Change
54.42%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Florida. It provides valuable insights into the performance and growth of this key industry within the state's economy.
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: Nondurable Goods Manufacturing (311-316, 322-326) in Florida series tracks the inflation-adjusted output of the nondurable goods manufacturing industries in the state. This metric is widely used by economists and policymakers to assess the health and competitiveness of Florida's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by businesses, investors, and government agencies to inform economic and policy decisions affecting Florida's manufacturing industry.
Key Facts
- Florida's nondurable goods manufacturing sector accounts for over 10% of the state's GDP.
- The industry employs more than 200,000 workers in Florida.
- Nondurable goods manufacturing includes industries like food, beverage, textile, and chemical production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Florida. It provides an indicator of the economic output and performance of this key industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is highly relevant for understanding the health and competitiveness of Florida's manufacturing industry, which is a vital component of the state's economy. It informs business decisions, economic policies, and investment strategies.
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 and methodologies.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, government agencies, and economic development organizations to assess the performance of Florida's manufacturing sector and inform policies and initiatives that support its growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, so there may be a delay in accessing the most recent information. Additionally, the trend may be subject to revisions as more complete data becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Florida (FLNDURMANRGSP), retrieved from FRED.