Gross Domestic Product: Machinery Manufacturing (333) in Hawaii
HIMACHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
1.45%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Machinery Manufacturing (333) in Hawaii measures the economic output of the machinery manufacturing industry in the state. This metric is important for analyzing Hawaii's industrial production and economic diversification.
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 represents the gross domestic product (GDP) contribution of the machinery manufacturing industry (NAICS code 333) within the state of Hawaii. It provides insight into the size and performance of this key manufacturing sector and its role in the broader state 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 economists use this metric to understand Hawaii's industrial composition and monitor the state's economic diversification efforts.
Key Facts
- Hawaii's machinery manufacturing GDP was $522 million in 2021.
- This sector accounts for 1.4% of Hawaii's total economic output.
- Machinery manufacturing GDP in Hawaii has grown by 23% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) contribution of the machinery manufacturing industry (NAICS code 333) within the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and performance of Hawaii's machinery manufacturing sector, which is an important component of the state's industrial base and economic diversification efforts.
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 economists use this metric to understand Hawaii's industrial composition and monitor the state's efforts to diversify its economy beyond tourism and agriculture.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Machinery Manufacturing (333) in Hawaii (HIMACHMANNGSP), retrieved from FRED.