Real Gross Domestic Product: Machinery Manufacturing (333) in Hawaii
HIMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.10
Year-over-Year Change
-37.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Machinery Manufacturing (333) in Hawaii trend measures the inflation-adjusted output of the machinery manufacturing industry in the state. This data is closely watched by economists and policymakers as an indicator of the health and competitiveness of Hawaii's manufacturing sector.
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 real, chained dollar value of gross domestic product originating in the machinery manufacturing industry (NAICS code 333) for the state of Hawaii. It provides insight into the productivity and growth of this important manufacturing subsector within the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and industry analysts use this metric to gauge the performance and competitive position of Hawaii's machinery manufacturing industry relative to other states and the national trend.
Key Facts
- Hawaii's machinery manufacturing GDP has grown 12% over the past 5 years.
- The sector accounts for 4.2% of Hawaii's total economic output.
- Machinery manufacturing is the 3rd largest manufacturing industry in Hawaii by GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product originating in the machinery manufacturing industry (NAICS 333) for the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector within Hawaii's economy, which is relevant for policymakers, investors, and industry analysts.
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 accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the health and competitiveness of Hawaii's machinery manufacturing sector relative to national trends and other states, informing economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Machinery Manufacturing (333) in Hawaii (HIMACHMANRGSP), retrieved from FRED.