Gross Domestic Product: Manufacturing (31-33) in Hawaii
HIMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,044.80
Year-over-Year Change
51.73%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the manufacturing sector in Hawaii. It provides crucial insights into the state's industrial output and economic performance.
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 Gross Domestic Product: Manufacturing (31-33) in Hawaii series represents the total value added by the manufacturing industry to Hawaii's overall economic production. This metric is widely used by economists and policymakers to analyze the strength and composition of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding Hawaii's economic diversification and competitiveness within the broader U.S. manufacturing landscape.
Key Facts
- Manufacturing accounts for approximately 2% of Hawaii's GDP.
- Hawaii's manufacturing sector has seen steady growth in recent years.
- The state's top manufacturing industries include food processing and transportation equipment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value added by the manufacturing industry to Hawaii's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the strength and composition of Hawaii's economy, helping policymakers and analysts understand the state's industrial performance and competitiveness.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze Hawaii's economic diversification and competitiveness within the broader U.S. manufacturing landscape.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Hawaii (HIMANNGSP), retrieved from FRED.