Gross Domestic Product: Primary Metal Manufacturing (331) in Hawaii
HIPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.40
Year-over-Year Change
2100.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the primary metal manufacturing industry (NAICS 331) in the state of Hawaii. It is an important indicator of the health and output of this key manufacturing sector 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 Gross Domestic Product: Primary Metal Manufacturing (331) in Hawaii series tracks the total economic output of businesses engaged in smelting and refining metals, as well as manufacturing metal products, in the state of Hawaii. This metric helps economists and policymakers understand the relative size and performance of this industrial segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
Monitoring this GDP trend can provide insights into the broader manufacturing environment and business investment climate in Hawaii.
Key Facts
- Hawaii's primary metal manufacturing GDP was $233 million in 2021.
- This industry accounts for 0.4% of Hawaii's total economic output.
- GDP in this sector has declined by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) of the primary metal manufacturing industry in Hawaii, including businesses engaged in smelting, refining, and manufacturing metal products.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of Hawaii's primary metal manufacturing sector provides important insights into the performance and health of this key industrial segment within the state's economy.
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 standards.
Q: How is this trend used in economic policy?
A: Monitoring this GDP trend can help economists and policymakers understand the broader manufacturing environment and business investment climate in Hawaii.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in Hawaii (HIPRIMETMANNGSP), retrieved from FRED.