Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Iowa
IATEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.29
Year-over-Year Change
-40.05%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Iowa measures the real output of the textile industry in the state. This metric is important for analyzing regional economic trends and the performance of specific sectors.
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 index tracks the real (inflation-adjusted) quantity of goods produced by textile manufacturers in Iowa. It provides a measure of the industry's contribution to the state's overall economic output and helps identify productivity changes over time.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis using established national accounting procedures.
Historical Context
Policymakers and analysts use this index to evaluate the health and competitiveness of Iowa's textile industry.
Key Facts
- The index has a base year of 2012.
- Iowa's textile industry contributed 1.2% to the state's GDP in 2021.
- The index declined by 3.5% in 2020 due to pandemic-related disruptions.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of textile manufacturers in the state of Iowa, including both textile mills and textile product mills.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of Iowa's textile industry, which is an important contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using established national accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate the health and competitiveness of Iowa's textile industry, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The index is updated quarterly, with a typical lag of 2-3 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Iowa (IATEXTQGSP), retrieved from FRED.