Real Gross Domestic Product: Private Goods-Producing Industries in Iowa
IAPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,655.50
Year-over-Year Change
6.27%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Goods-Producing Industries in Iowa measures the inflation-adjusted output of private goods-producing industries, such as manufacturing and construction, within the state of Iowa. This economic indicator provides insight into the overall health and productivity of Iowa's private 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 tracks the real (inflation-adjusted) value added by private goods-producing industries in Iowa's economy. It is a key indicator of the state's industrial production and economic growth. Economists and policymakers monitor this data to assess the performance and competitiveness of Iowa's private sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this series are used to inform economic and policy decisions at the state level in Iowa.
Key Facts
- Iowa's private goods-producing industries account for over 20% of the state's GDP.
- This series has shown steady growth averaging 2.5% annually over the past decade.
- Manufacturing is the largest component, contributing nearly 60% of private goods production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted value added by private goods-producing industries in the state of Iowa, such as manufacturing and construction.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the overall health and productivity of Iowa's private sector, which is a key driver of the state's economic growth 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: Trends in this series are closely monitored by Iowa's policymakers and economists to inform economic development strategies and assess the state's industrial performance.
Q: Are there update delays or limitations?
A: This data is released quarterly with a lag of approximately two months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Iowa (IAPRIGOODPRORGSP), retrieved from FRED.