Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in the Great Lakes BEA Region
GLAKNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.48
Year-over-Year Change
32.08%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the nondurable goods manufacturing sector of the Great Lakes region. It provides insight into the production and output levels of key industries in this geographic area.
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 chain-type quantity index for real GDP in nondurable goods manufacturing tracks the inflation-adjusted output of industries like food, beverage, textile, and chemical production in the Great Lakes region. This data helps economists and policymakers understand regional economic conditions and trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
This regional economic indicator can inform policy decisions and business strategies related to the manufacturing and production sectors.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- Nondurable goods manufacturing makes up a significant portion of the region's economic output.
- This index is a key indicator of industrial production and economic activity in the Midwest.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the nondurable goods manufacturing sector of the Great Lakes region.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the production and output levels of key industries in the Great Lakes region, helping to inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Q: How is this trend used in economic policy?
A: This regional economic indicator can inform policy decisions and business strategies related to the manufacturing and production sectors.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the BEA.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in the Great Lakes BEA Region (GLAKNDURMANQGSP), retrieved from FRED.