Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Hawaii
HIPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.70
Year-over-Year Change
26.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Hawaii. It provides insights into the economic performance and growth of this critical 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
The GDP of the plastics and rubber products manufacturing industry in Hawaii represents the total value of goods and services produced by this sector within the state's economy. It is an important indicator of the industry's contribution to Hawaii's overall economic activity and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional economic accounts.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and outlook of Hawaii's manufacturing sector.
Key Facts
- Hawaii's plastics and rubber products manufacturing industry contributes over $1 billion to the state's GDP.
- This sector has experienced steady growth in recent years, outpacing the overall state economy.
- The plastics and rubber products industry is a key employer in Hawaii, supporting thousands of jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of a critical manufacturing sector in Hawaii's economy, which is closely monitored by policymakers, economists, 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 (BEA) as part of its regional economic accounts.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and outlook of Hawaii's manufacturing sector, which is an important driver of the state's overall economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically released by the BEA with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Hawaii (HIPLASRUBMANNGSP), retrieved from FRED.