Real Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region
GLAKMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,292.50
Year-over-Year Change
16.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) in the miscellaneous manufacturing sector (NAICS code 339) within the Great Lakes region of the United States. It provides insight into the productivity and output of this critical manufacturing subsector.
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: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region tracks the inflation-adjusted economic output of a diverse set of manufacturing industries, including medical equipment, sporting goods, office supplies, and more. This metric is used by economists and policymakers to assess the health and competitiveness of the region's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP estimates.
Historical Context
This economic indicator helps inform decisions around industrial policy, investment, and workforce development in the Great Lakes states.
Key Facts
- The Great Lakes region accounts for over 25% of total U.S. manufacturing GDP.
- Miscellaneous manufacturing makes up about 5% of the region's total manufacturing output.
- This sector has seen steady productivity growth in recent decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the miscellaneous manufacturing sector (NAICS code 339) within the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and competitiveness of a diverse set of manufacturing industries in a key U.S. economic region, which is important for policymakers and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This indicator helps inform decisions around industrial policy, investment, and workforce development in the Great Lakes states.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to periodic revisions by the BEA.
Related Trends
Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Great Lakes BEA Region
GLAKPCEPCODURG
Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Great Lakes BEA Region
GLAKPCEHCE
Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in the Great Lakes BEA Region
GLAKAMUSENGSP
Gross Domestic Product: Real Estate (531) in the Great Lakes BEA Region
GLAKREALNGSP
Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in the Great Lakes BEA Region
GLAKFININSQGSP
Gross Domestic Product: Information (51) in the Great Lakes BEA Region
GLAKINFONGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in the Great Lakes BEA Region (GLAKMISCMANRGSP), retrieved from FRED.