Chain-Type Quantity Index for Real GDP: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region
GLAKMISCMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.23
Year-over-Year Change
16.98%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region measures the real output of the miscellaneous manufacturing sector in that geographic area. This is an important indicator for evaluating regional economic performance and productivity.
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 index tracks the volume of goods produced by the miscellaneous manufacturing industry, which includes a diverse range of products like medical equipment, office supplies, and sporting goods. Economists and policymakers use this data to assess the health and competitiveness of the regional manufacturing base.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
The data helps inform policy decisions related to economic development, trade, and investment in the Great Lakes region.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. manufacturing GDP.
- Miscellaneous manufacturing makes up approximately 10% of the region's total manufacturing output.
- The index uses 2012 as the base year for calculating real GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or volume of goods produced, by the miscellaneous manufacturing sector in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This data is important for evaluating the performance and competitiveness of the regional manufacturing base, which is a key driver of economic growth in the Great Lakes states.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to track real GDP for the miscellaneous manufacturing industry in the Great Lakes region.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform decisions related to economic development, trade, and investment in the Great Lakes region.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 1-2 month delay.
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Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region (GLAKMISCMANQGSP), retrieved from FRED.