Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Hawaii
HINDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,173.70
Year-over-Year Change
34.97%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Hawaii. It provides insights into the productivity and output of a key industry within the state's economy.
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: Nondurable Goods Manufacturing (311-316, 322-326) in Hawaii series tracks the inflation-adjusted economic output of industries such as food, beverage, textile, and paper manufacturing. This metric is used by economists and policymakers to analyze the health and competitiveness of Hawaii's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This economic trend is relevant for understanding Hawaii's industrial composition and informing economic development policies.
Key Facts
- Hawaii's nondurable goods manufacturing sector accounts for over 10% of the state's GDP.
- This industry has experienced steady growth in recent years, outpacing the national average.
- Food and beverage manufacturing make up the largest sub-sectors within Hawaii's nondurable goods production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the nondurable goods manufacturing sector in Hawaii, including industries such as food, beverage, and textile production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and competitiveness of a key industry within Hawaii's economy, which is important for understanding the state's industrial composition and economic development.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to inform economic development strategies and monitor the health of Hawaii's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, and may be subject to revisions as more complete information becomes available.
Related Trends
Personal Consumption Expenditures: Services: Other Services for Hawaii
HIPCEOSRV
All Employees: Private Service Providing in Hawaii
SMS15000000800000001
Gross Domestic Product: Natural Resources and Mining (11, 21) in Hawaii
HINATRESMINNGSP
Average Hourly Earnings of All Employees: Leisure and Hospitality in Hawaii
SMU15000007000000003
Total Wages and Salaries in Hawaii
HIWTOT
All Employees: Educational Services: Elementary and Secondary Schools in Hawaii
SMU15000006561110001A
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Hawaii (HINDURMANRGSP), retrieved from FRED.