Gross Domestic Product: Primary Metal Manufacturing (331) in Iowa
IAPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,724.70
Year-over-Year Change
67.28%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the primary metal manufacturing industry in the state of Iowa. It is an important indicator of the economic health and production levels of this key 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 Gross Domestic Product: Primary Metal Manufacturing (331) in Iowa series tracks the total economic output of the primary metal manufacturing industry in Iowa. This data is used by economists and policymakers to analyze trends in this crucial industrial sector and its contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
Trends in this metric can inform economic and industrial policies at the state level.
Key Facts
- Iowa is a major center of primary metal production in the U.S.
- This industry accounts for over 10% of Iowa's total GDP.
- GDP in this sector has grown by 5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) of the primary metal manufacturing industry in the state of Iowa.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of Iowa's primary metal manufacturing sector provides important insights into the health and productivity of this crucial industry.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform economic and industrial policies at the state level, as the primary metal manufacturing industry is a major driver of Iowa's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in Iowa (IAPRIMETMANNGSP), retrieved from FRED.